365 hf. - Company Announcement

Offer to purchase shares

The following proposals submitted at the Shareholders Meeting of 365 hf. on
Tuesday, 1st of July, 2008 were approved by shareholders representing 88,5% of
the total share capital. 

Proposal that the Board shall request that the Company‘s shares will be
delisted from OMX Nordic Exchange in Iceland. 

- The proposal was approved by 100% of total votes cast.

Proposal to authorize the Board to purchase shares in 365 hf. from shareholders
that so request. The offer shall be valid until 11th of July 2008 at 4.00 p.m.
The purchase price shall be share price of 1.20 

- The proposal was approved by 100% of total votes cast.

Proposal to authorize the Board in relation to proposal cf. 2 here above to
purchase up to 15% 365‘s own shares for the nominal value of ISK 1.20 per
share. The authority shall be valid until 31st of July 2008. If 365 hf.
acquires over 10% of the share capital the Board of Directors shall reduce the
share capital in accordance with law, so that total shares held by 365 hf. in
the Company amounts to no more than 10% of the share capital. 

- The proposal was approved by 100% of total votes cast.


The Board of Directors of 365 hf. has in accordance with the aforementioned
results of the Shareholder‘s Meeting issued an offer to purchase shares in 365
hf. from sharesholders that so choose. The offer is valid as of 3rd of July
2008 at 10 am until 11th of July 2008 at 4 pm. 

All inquiries regarding the offer will be given by:  

Hildur Sverrisdóttir, compliance officer of 365 hf., tel: +354-512-5000,
hildurs@365.is.