The Board of Directors of Teymi hf. has decided to propose to the company‘s shareholders the de-listing of the company‘s shares from the OMX Nordic Exchange in Iceland. The shareholders will vote on the proposal at a shareholders meeting to be convened shortly. It is the opinion of the Board of Directors of Teymi that listing of the company‘s shares does not benefit the shareholders interests under the current circumstances in the market. The Board of Directors of Teymi decided in a board meeting on Wednesday 30 July 2008 to convene a shareholder's meeting and put forward a resolution giving it the mandate to request the de-listing of the shares of the company from the OMX Nordic Exchange in Iceland. Upon approval of the aforementioned resolution the Board will offer to buy shares in Teymi in exchange for shares in Alfesca hf; a company listed on the OMX Nordic Exchange in Iceland. Shareholders representing approx. 80% of Teymi's share capital have announced that they will abstain from such a sale and remain shareholders in the company. The share price in Teymi according to the offer will be 1,90 ISK per share which is 25% above market value as recorded on Wednesday 30 July 2008. The share price in Alfesca will be 6,96 ISK per share which is the final price recorded on Wednesday 30 July 2008. Thus the exchange rate is 0.273. Teymi has entered into an agreement regarding the purchase of the shares in Alfesca hf. which is subject to the approval of the shareholders‘ meeting of the resolution to de-list the company‘s shares, in order to fulfil the aforementioned offer. Upon approval of the resolution shareholders registered in the company‘s share register at the end of business the day before the shareholder's meeting (taking into account the transaction rules of the Icelandic Stock Market (T+3)) may make use of the offer. Landsbanki Íslands Corporate Finance is the manager of the de-listing process. Consultants at Landsbanki will provide shareholders with further information at tel: + 354 4104040. For further information contact: Árni Pétur Jónsson, CEO of Teymi