365 hf. has sold all its stake, 30,7 per cent of total shares in Hands Holding hf. to Arena Holding unfounded company owned by Baugur Group hf. , Fons Eignarhaldsfélaga hf. and Icon ehf. The price is at book value ISK 1.620 million and lion's share will be paid on 28th of June 2007 amount of ISK 1.500 million. This sale is part of the reorganisation announced on 1st of December 2006 as stated that the plan was to sell the shareholding in Hands Holding over the next 12 to 24 months. After this sale the interest bearing debt will decreased amount of ISK 1.500 million and will be ca. ISK 7.000 million. Ari Edwald CEO of 365 hf.: This sale is a big step on the way towards selling assets which are not part of 365 hf core business and also in adjusting the company's total debt to its main business which is in the media and entertainment sector in Iceland. For further information contact Ara Edwald CEO of 365 hf. mobile: 8210354