At the request of Rekstrarfélag Nýja Kaupþings banka hf. (on behalf of Kaupthing ÍS-5, Kaupþing ÍS-15 and ICEQ verðbréfasjóður), Gildi lífeyrissjóður, Sameinaði lífeyrissjóðurinn and Stafir lífeyrissjóður, the board of Alfesca hf. convenes a shareholders' meeting at Hilton Reykjavik Nordica, on Wednesday 12 August 2009 at 17:00. The agenda of the meeting includes the following items of business: 1. Lur Berri Iceland ehf.'s takeover bid to shareholders of Alfesca hf., dated 25 June 2009 2. That a representative of Saga Capital Investment Bank or the board of directors of Alfesca hf. presents a thorough account of the appraisal that was carried out on behalf of the board of directors of Alfesca hf. pursuant to paragraph 7 of Article 104 of the Act on Securities Transactions no.108/2007 and which was published on Nasdaq OMX Iceland stock exchange. The presentation shall, among other matters, explain with a scenario and sensitivity analysis the assumptions made in relation to the future growth of the Company and the required rate of return taken into account for the purposes of the appraisal. It is also required that the presentation sets out a comparison of the valuation multiples of comparable companies taken into consideration and that access is given to the appraisal prepared by Saga Capital Investment Bank at the request of the shareholders of the Company. 3. That a representative of IFS Ráðgjöf ehf., is invited to present a report on its appraisal of the takeover bid. 4. That the shares of Alfesca hf. are not applied to be withdrawn from listing on the Nasdaq OMX Iceland stock exchange and/or will be applied to be admitted to trading on another regulated market and further that the Company enters into a contract with at least one market maker on the Nasdaq OMX Iceland stock exchange in respect of the Company´s shares listed on the exchange. 5. That the shareholders collectively not forming the consortium of investors that have submitted the takeover bid on 25 June 2009 in respect of the shares of the Company be entitled to appoint one observer to attend meetings of the board of directors of the Company. 6. That all contracts entered into by the consortium of investors that submitted the takeover bid on 25 June 2009 regarding the control and management of Alfesca hf., as set out in page 4 of the offer document published on the Nasdaq OMX Iceland stock exchange, are made available to the shareholders of the Company and accounted for, so that other shareholders not part of the consortium of investors that submitted the takeover bid on 25 June 2009 are able to form a better opinion regarding the future management of the Company. 5 August 2009 The Board of Directors Alfesca hf. Notes: 1. The meeting will be held in English. 2. Ballots and other relevant materials will be available at the entrance of the venue of the meeting. 3. Only members registered on the Company's shareholder register shall be entitled to attend and vote at the shareholder meeting.