Hf. Eimskipafélag Íslands - Company Announcement

Eimskip´s loan guarantee provided to the buyers of XL Leisure Group is still valid

Reykjavik, Iceland 7 May 2008 - Hf. Eimskipafelag Islands (OMX: HFEIM), the
international shipping and logistics company, today announces that the loan
guarantee it provided to the purchasers of XL Leisure Group in the UK in the
end of 2006 is still valid. The Company had previously announced that the
guarantee would expire on 5 May 2008. Due to difficult market conditions the
refinancing has not been completed but Eimskip is in good cooperation with the
management of XL Leisure Group and its financial partners. The Company expects
the guarantee to be waived in the coming weeks. 

For further information

Halldor Kristmannsson
Executive VP of Corporate Communications
Tel: (+354) 840 3425
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 in around 200 locations around the world, in over 30 countries with a
total of 14,000 employees.