Investor Relations:

Composition Proposal for Landic Property hf.

Landic Property hf. Reg.No. 450599-3529 informs that the company has been given permission to seek forced agreement of debt (composition process) by order of the District Court of Reykjavík, Iceland, which was read on the 10th of November 2009. Astradur Haraldsson, Supreme Court Attorney has been appointed as a supervisior of the composition process.

Recall to creditors that carry negotiative authority has already been sent for publication in the Icelandic National Legal Gazette and the earlier publishing of two will be on the 19th of November 2009. Pursuant to this the requirement declaration deadline will be over on Thursday the 17th of December 2009. Requirement declarations need to be presented to:

Astradur Haraldsson, Supreme Court Attorney

Ranargata 18

Reykjavík

Iceland

A meeting with the individuals of interest in the matter will be held at the Hilton Hotel Nordica, Sudurlandsbraut 2 in Reykjavík, on Tuesday 12th of January 2010, at 14:00 p.m. and its purpose is to cast a vote on the composition proposal.

Information about the composition proposal can be found here