Icelandic Group hf. has sold all of its shares in VGI ehf. The agreement became effective 20 April 2007 and new owners took over the company from that date. The price of the shares is confidential but estimated gain from the sale amounts to ISK 105 million. Sales proceedings will be incorporated in Q2 interim statements 2007. For further information: Björgólfur Jóhannsson, CEO of Icelandic Group, tel.: +354 896 1455