- Date of transaction 31.8.2007

| Source: Icelandair Group hf. Icelandair Group hf. 

Name of party notifying:	
Langflug ehf.

Address of the party notifing:	
Bitruhálsi 2

Date of transaction:	
31.8.2007

Number of shares in transaction:	
82.330.000,-

Number of shares before the transaction:	
320.000.000,-

Number of shares after the transaction:	
237.670.000,-

Holdings of total nominal value before the transaction %:	
32,00%

Holdings of total nominal value after the transaction %:	
23,77%

Notification is based on:	
Art. 33 (1) of the Act no. 33/2003 point(s) no.

Comments:
Guðsteinn Einarsson, varastjórnarmaður í ICEAIR og jafnframt í Langflugi