Landsafl´s Financial Results 2007 Landsafl´s profit ISK 4.1 billon Key results for 2007: • Total assets ISK 23.5 billion compared to ISK 17.3 billion the year before • Total equity ISK 8.2 billion at year-end. Total equity at year end 2006 amounted to 4.1 billion. • Total revenues amounted to ISK 1.2 billion in 2007. • Profit for the year is ISK 4.1 billion compare to loss of 725 million in 2006. • Valuation of investment properties amounted to 5.5 billion in 2007. Operational highlights for 2007: • Refurbishment and enlargement of Holtagarðar, retail centr. First phase completed in November 2007. • Became part of Landic Property hf. Outlook • Completion of the enlargement of Holtagarðar. The financial statements for Landic Property hf. are prepared in accordance with the International Financial Reporting Standards (IFRS). The financial statements have been audited by the company's auditors. Further information For further information on the financial statements, please contact: Guðrún Ögmundsdóttir, Investor Relations, tel: +354 895 6066 Anna Sif Jónsdóttir, CFO of Landic Iceland, tel. +354 867-8269 About Landsafl and the outlook: Landsafl er a subsidiary of Landic Property and owns 16 properties in Iceland. The future business outlook is good.