Icelandic Group hf. has issued convertible loans from its shareholders in accordance with its AGM resolution on 18 April 2008, as adopted in clause 15.1 in the company's articles of association. The total loan amount is ISK 4,659,650,000 and the loans are due in four years. For further information please contact: Finnbogi A. Baldvinsson, CEO + 49 1723 198 727