The Annual General Meeting of Icelandair Group hf. will be held on Tuesday 11 March 2008 at the Hilton Reykjaík Nordica at 16:00 Agenda: 1. Presentation of the report of the Board of Directors on the activities of the Company in 2007. 2. The accounts of the Company for 2007, including an audit report, submitted for confirmation. 3. Decisions taken concerning the disposal of the profit of the Company during the fiscal year, incl. dividends. 4. Motion on amendments to the Articles of Association of the Company, if proposed. 5. Presentation for approval of a proposal from the Board of Directors concerning the Icelandair Group hf. remuneration policy. 6. A decision made on the remuneration of the Board of Directors. 7. Election of Board of Directors. 8. Election of auditing firm. 9. Any other lawfully submitted business. Announcements of candidacy for seats on the Board of Directors shall be submitted in writing at the Company Headquarters on Reykjavík Airport 5 days prior the Annual General Meeting. Announcements of candidacy shall include, in addition to the name of the candidate, the candidate's ID number and address, information on principal occupation, other directorships, education, experience and shareholdings in the Company. Notices should also include information on any relations with the Company's principal business partners and competitors and with shareholders holding more than a 10% share in the Company. If any shareholder wishes to have a specific item of business included on the Agenda for the meeting a request to such effect should be submitted at the Company headquarters at Reykjavík Airport at the latest 7 days prior to the Annual General Meeting. The Company's annual accounts and finalised motions will be laid open at the Company's headquarters at Reykjavík Airport for inspection by shareholders 7 days prior to the meeting. Ballots along with other documents will be available at the Hilton Reykjavík Nordica at the meetings. The Board of Directors of Icelandair Group hf.