Following integration process within the companies of Marel hf, the Board of the Company has decided on a new organisation chart for the Group. The main change is that Marel's current operations activities in Iceland will be separated from the parent company, Marel hf, and taken over by a new subsidiary, Marel ehf, which will be an independent business unit within the Group alongside AEW Delford, Carnitech, Scanvaegt and the manufacturing plant in Slovakia. Along with this change, the plan is to change the name of the Parent Company, Marel hf., to Marel Food Systems hf., subject to the approval of a shareholders' meeting soon to be convened. It is envisaged that these changes to the Group's organisational structure will enter fully into effect as from 1st of January 2008, whereby the operations and activities of the parent company in Iceland (Marel ehf) will be separate with regards to accounts and finances. The Marel Group's world-wide sales and service network will be united in the ownership of the parent company and under the Marel Food Systems trademark in order to ensure better service to the Group's customers and offer different comprehensive solutions at all stages of food industry. These will comprise products from all the Group's production units, each of which displays trademarks renowned for excellence, reliability and quality of service. The Chief Executive Officer of the parent company, Marel Food Systems hf, is Mr Hörður Arnarson, who has served in that position since 1999. He has been working for Marel since 1985. The Vice Chief Executive Officer and the Managing Director of Marel Food System's sales and service network is Mr Lárus Ásgeirsson, who has been one of the Managing Director of of Marel's subsidiary Scanvaegt International A/S for the past year. Mr Ásgeirsson started working for Marel in 1991. Mr Erik Steffensen will remain in the position of Managing Director of Scanvaegt. Mr Kristján Þorsteinsson is the Chief Financial Officer of the Parent company, Marel Food Systems hf. He started working for Marel in 1999 as the CFO. Mr Sigsteinn Grétarsson will be Managing Director of Marel's activities in Iceland in the new subsidiary, Marel ehf, simultaneously serving as the Parent Company's Director of Business Development. Mr Grétarsson started working for Marel in 1997. Mr Ásgeir Ásgeirsson will be Director of Product Development of the Parent company, as well as continue as the Managing Director of AEW Delford Systems Ltd. He started working for Marel in 1986 Henrik Ladefoged will be the Director of Service of Marel Food Systems as well as continuing as Service Director of Scanvaegt. These organisational changes to the Marel Group draw clearer lines between the Group's individual units, with the aim of making the best possible use of the resources of all the companies within the Group. It is expected that the changes will generate more worth and provide for better service to the customers, at the same time improving communication links and financial efficiency within the Group. If further information is desired, please contact Mr Hörður Arnarson, Chief Executive Officer of Marel hf, by telephone number 563 8000.