Alfesca hf. - Managers' transactions

- Date of transaction 3.3.2008

Auðkenni útgefanda/Trade ticker:                                                
A                                                                               

Nafn útgefanda/Issuer:                                                          
Alfesca hf.                                           

Dagsetning tilkynningar/Date of announcement:                                   
03.03.2008                                                                      

Nafn fruminnherja/Name primary insider:                                         
Kristinn Albertsson                                                             

Tengsl fruminnherja við útgefanda/Insider's relation with the issuer:           
Varamaður í stjórn Alfesca / Alternate Member of the Board                      

Dagsetning viðskipta/Date of transaction:                                       
03.03.2008                                                                      

Tímasetning viðskipta/Time of transaction:                                      
13:45                                                                           

Tegund fjármálagernings/Type of financial instrument:                           
Hlutabréf / Equities                                                            

Kaup eða sala/Buy or Sell:                                                      
Sala / Sell                                                                     

Fjöldi hluta/Number of shares:                                                  
500,000                                                                         

Verð pr. Hlut/Price per share:                                                  
6,64                                                                            

Fjöldi hluta í eigu fruminnherja eftir viðskipti/Primary insider's holdings     
after the transaction:                                                          
0                                                                               

Fjöldi hluta sem fruminnherji á kauprétt að/Primary insider's option holdings   
after the transaction:                                                          
0                                                                               

Fjöldi hluta fjárhagslega tengdra aðila eftir viðskipti/Related parties'        
holdings after the transaction:                                                 
10,000,000                                                                      

Dagsetning lokauppgjörs*/Date of settlement*:                                   


Athugasemdir*/Comments*:                                                        

Eftir viðskiptin á Kristinn Albertsson 10,000,000 hluti í Alfesca hf. í gegnum  
eignarhaldsfélag sitt, Smárinn ehf.                                             

Kristinn Albertsson is in addition beneficially interested in 10,000,000 shares 
in Alfesca hf. through Smarinn hf, a company controlled by him.