Hf. Eimskipafélag Íslands - Company Announcement

Eimskip extends loan guarantee in relation to the disposal of XL Leisure Group

Reykjavik, Iceland, 4 March, 2008, Hf. Eimskipafelag Islands (OMX: HFEIM), the
international transportation and logistics company, today announced that it has
extended its loan guarantee granted to the purchasers of XL Leisure Group, inrelation to the disposal of the company in October 2006. The guarantee of US$
280 million expires on 5 March. Due to market conditions in global financial
markets, the guarantee has now been extended until 5 May 2008 to enable XL
Leisure Group to complete its refinancing. 


For further information

Halldor Kristmannsson
Executive VP of Corporate Communications
Tel: (+354) 8403425
E-mail: halldor.kristmannsson@eimskip.is 

About Eimskip

Hf. Eimskipafelag Islands (OMX: HFEIM), international transportation and
logistics company is publicly listed on the Icelandic Stock Exchange. The
company has over 90 years of experience in providing transportation,
warehousing and logistics services in Europe, primarily in the North Atlantic
region. 

Operating with 200 locations around the world in over 30 countries with a total
of 14,000 employees, Hf. Eimskipafelag Islands has global reach. It owns or
operates 50 vessels, 180 cold-store facilities and 2,000 trucks and trailers. 

Eimskip is traded on the Icelandic Stock Exchange under the symbol of HFEIM. To
find out more about Eimskip, visit our website at www.eimskip.com.