Bakkavör Group hf. - Managers' transactions

Bakkavör Group hf. - Insider dealing

ELL 182 ehf., a wholly owned company by Lýdur Gudmundsson and Ágúst
Gudmundsson, has today 10 October 2008 purchased 855,151,478 shares in Bakkavör
Group hf. or 39.629% of total share capital of Bakkavör Group from Exista. The
price in the transaction is ISK 9.79 per share which is the last closing price
of Bakkavör Group 8 October. Lýdur Gudmundsson is Chairman of Bakkavör Group
and Ágúst Gudmundsson is CEO and Board Member of Bakkavör Group. 

Lýdur Gudmundsson does not hold any shares in Bakkavör Group. Parties related
to Lýdur Gudmundsson hold 855,166,183 shares in the company after the
transaction. 
Ágúst Gudmundsson does not hold any shares in Bakkavör Group. Parties related
to Ágúst Gudmundsson hold 855,151,478 shares in the company after the
transaction.