Financial restructuring of Eignarhaldsfélagið Farice ehf. and subsidiary Farice hf.

The agreement which Eignarhaldsfélagið Farice ehf. and its creditors entered
into in December 2009 has been extended until next 1 april. The agreement
entails as before that for the duration of the agreement the company has the
opportunity to pay or negotiate due payments. Eignarhaldsfélagið Farice ehf.
has been working on a financial restructuring of the company in cooperation
with the company's creditors and other stakeholders and assisted by
consultants.  Farice hf a subsidiary of Eignarhaldsfélagið Farice ehf has also
made an agreement with its major creditors and other stakeholders to pay or
negotiate due payments until next 1 april.