Marel Food Systems hf. - Company Announcement

Issuance of Stock Options

Marel Food Systems hf. has concluded new stock option agreements in accordance
with the company's compensation policy, totalling 11,200,000 shares. The stock
option agreements' purpose is to align the interests of the employees and the
shareholders in the long run. Part of the stock option agreements are with
Marel Food Systems hf.'s Executive Board, i.e. Hörður Arnarson, CEO, Theo Hoen,
Vice CEO and Managing Director of Stork Food Systems, Erik Kaman, CFO, and
Lárus Ásgeirsson, Managing Director of Sales and Marketing, entitle them
purchase of shares as per below: 

Hörður Arnarson		
New stock options: 3,000,000
Older unused stock options: 3,000,000

Theo Hoen		
New stock options: 2,000,000
Older unused stock options:  0

Erik Kaman		
New stock options: 1,500,000
Older unused stock options: 0

Lárus Ásgeirsson		
New stock options: 500,000
Older unused stock options: 500,000


All the stock option agreements entitle purchase of shares at the share
offering price ISK 89 per share, with 50% exercisable in August 2011 and the
remaining 50% exercisable in August 2012. No put options or finance are related
to the stock option agreements. The options are valid only if the holder is
still employed by Marel Food Systems hf. group at the time of utilisation. 

Total number of shares owned by the abovementioned parties and their financial
related parties are: 

Hörður Arnarson		
Shareholding in own name:  1.669.009
Shareholding of financially related parties:  7.235

Theo Hoen		
Shareholding in own name:  0
Shareholding of financially related parties:  0

Erik Kaman		
Shareholding in own name:  0
Shareholding of financially related parties:  0

Lárus Ásgeirsson		
Shareholding in own name:  0
Shareholding of financially related parties:  1.021.396

Total number of shares granted by Marel Food Systems hf. in stock option
agreements amount to 27,295,000 shares.