Directors Dealings Name of insider: Langflug ehf. Relations with the issuer: All members of the Board of Langflug ehf. are either Members or Alternate Mebers of the Board of ICEAIR Date of transaction: 31.8.2007 Buy or Sell: Sala / Sale Type of instrument: Hlutabréf / Equities Number of shares: 82.330.000,- Price: 30,53 Primary insider's holdings after the transaction: 237.670.000,- Primary insider's option holdings after the transaction: 0 Related parties holdings after the transaction: 0 Date of settlement: 11.9.2007 Comments: Langflug ehf. has made an agreement on a mutual exchange of shares with FS7 ehf., a company owned by Finnur Ingólfsson, the chairman of the Board of ICEAIR and Langflug ehf., regarding a swap of shares in ICEAIR and Langflug ehf. In addition a share purchase agreement on a small amount of Langflugs' shares in ICEAIR was also made with FS7 ehf. All board members in Langflug ehf. are either board members or reserve board members in ICEAIR