Eyrir Invest ehf. - Company Announcement

Eyrir Invest acquires own shares

Eyrir Invest has today purchased own shares corresponding to 9% of total shares
in exchange for 2.5% share in Marel. The transaction is between Eyrir and
Landsbankinn.  Eyrir acquires 100 million shares in Eyrir at the price of 26
ISK per share (15.7 eurocents) in exchange for 18.6 million shares in Marel at
the price of 140 ISK (84 eurocents) per share. 

Arni Oddur Thordarson, CEO of Eyrir Invest:

“Eyrir Invest is the principal shareholder in Marel with 33% holding which we
intend to hold for the long term.   Marel is the global market leader in a fast
growing market after successful growth through acquisitions.  Marel has
invested well in innovation and market penetration and is now harvesting from
those investments. We believe that looking forward Marel will enjoy a strong
and profitable organic growth. 

Eyrir Invests financials are sound with total assets of 400 million Euros and
an equity ratio in excess of 50%. We will continue to focus on our current core
investments which are in addition to Marel, Fokker Technologies and Stork
Technical Services. In addition, we will support our venture capital activities
in Eyrir sprotar for further investments and growth.” 

The total number of issued shares in Eyrir Invest is 1.108 million, including
100 million own shares. After this transaction Landsbanki holds 3.5% in Eyrir
and Horn Invest, which is 100% owned by Landsbanki, holds 12.5%.  Eyrir
Invest's principal shareholders are Thordur Magnusson and Arni Oddur
Thordarson, and companies fully under their control and ownership, with total
holdings of 34%. 



For further information, please contact:
Arni Oddur Thordarson, CEO of Eyrir Invest
Tel: +354 525-0200
www.eyrir.is



About Eyrir

Eyrir Invest is an international investment company. Eyrir Invest places great
emphasis on participating in the operations and strategic planning of its core
holdings.