Nýherji hf. - Company Announcement

Nýherji sells Applicon in Denmark

Nýherji hf. has sold its Danish subsidiaries Applicon A/S and Applicon
Solutions A/S. The buyer is Ciber A/S in Denmark, a member of the IT group
Ciber Inc. (NYSE: CBR). The purchase price is confidential. The sale will not
have a material effect on Nýherji hf.'s Q1 2014 results, but will strengthen
its liquidity position and allow for a better focus on remaining operations. 

Ciber in Denmark will take control of Applicon on 1 April 2014. With about 40
employees, the Applicon companies in Denmark specialise in sales and
consultancy services related to SAP business software and the development of
related software solutions. 



Finnur Oddsson CEO of Nýherji hf.:"The sale of the Applicon companies in Denmark marks a turning point for the
Nýherji Group. We have now sold all our businesses in Denmark, which have not
performed as well as we would have liked in recent years. This is partly due to
the lack of synergies between our Danish operation on the one hand and
Nýherji's subsidiaries in Iceland and Sweden on the other hand. 

We are very pleased with Ciber's acquisition of the Applicon companies and
believe that it will bring a range of benefits. Applicon's selection of
services and products is a good fit with Ciber's existing offerings and a
combined entity will be better equipped to meet the needs of demanding
customers. We also see opportunities for future collaboration between Ciber and
Nýherji. 

The sale will allow us to concentrate fully on the operations of Nýherji and TM
Software in Iceland and the remaining Applicon subsidiaries in Iceland and
Sweden. We expect that this will allow us to further improve our service to
customers and improve the Group's performance."



For further information please contact:

Finnur Oddsson, CEO of Nýherji (finnur.oddsson@nyherji.is) Tel.No.: +354
862-0310