Teymi hf. - Managers' transactions

Teymi - Board issues call options

The Board of Directors of Teymi hf. has decided to grant  key employees of the
Group options to buy shares in the Company.  Stock option holders are entitled
to exercise one third of their total stock option every year for three years,
starting in November 2008. The exercise price of the options is ISK 6,54 per
share which is the closing price on 8 November 2007.The options are conditional
upon the employee remaining in service. The total options issued are 10 million
ISK.