Ossur - Restructuring in North America

| Source: Ossur Hf Ossur Hf

Following are the main changes scheduled to take place during the course of 2006:
 
  •          Closing down of the Company's facility in Bothell, Washington
  •          Outsourcing manufacturing of off-the-shelf bracing and support products from North America to Asia
  •          Moving the Company's remaining operations in Richmond, Canada to a smaller facility
  •          Consolidating custom knee brace manufacturing in the US in Foothill Ranch, California
  •          Consolidating Jerome Medical and Philadelphia Collar in Thorofare, New Jersey and an East Coast distribution centre established at the same location
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    The restructuring involves reducing the number of Ossur employees in North America by approximately 80. Ossur will provide the best transition possible for departing employees, including career coaching programs.
     
    As previously announced Ossur expects to realize benefits from the integration and restructuring in 2007.
     
    Ossur
    Ossur (Icelandic Stock Exchange: OSSR) is as much about helping people to live a life without limitations as it is about its orthopaedic products. A trusted and global leader in the development, manufacturing, distribution, sales and marketing of braces and support products and prosthetics, Ossur creates award-winning designs - including its bionic technologies - and partners with the health practitioners who use them to deliver successful clinical and business outcomes. Headquartered in Reykjavik, Iceland, the company has operations and a distribution network throughout the world. The company allocates an industry record of 6-8 percent of its revenue on research and development to conceive and harness the most advanced technologies for incorporation in its product designs, and provides extensive education programs through the Ossur Academy.  Website: www.ossur.com
     
    Forward-Looking Statements
     
    This statement includes "forward-looking statements" including expectations about the anticipated benefits of Ossur North America's consolidation, which involve risks and uncertainties that could cause actual results to differ materially from results expressed or implied by these statements.  Ossur hf. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-