Landic Property hf's shareholders meeting will be held on 29 January 2009

A Shareholders Meeting of Landic Property hf. will be held at the company´s
office at Kringlunni 4-12, Reykjavík on Thursday, 29 January 2009 at 10:00 AM. 

Agenda:
1.	Proposal to change the number of the members of the Board of Directors of
Landic Property from seven to five. 
2.	Proposal to grant the Board authorization to continue the strategic review
and measurements related to that review. 
3.	Other issues

Proposals of the Board of Directors of Landic Property hf. to the company´s
shareholders meeting on 29 January 2009 

Item 1:
Proposal to amend article 4.1., changing the number of Landic Property´s Board
of Directors members from seven to five. 

Item 2:
As stated in the announcement from Landic Property on the 5 December 2008, the
company is conducting a strategic review in light of the continuing adverse
market conditions. Following conclusions from the strategic review to date, the
Board of Directors submits the following proposal to the shareholder‘s meeting: 

A proposal is submitted to the shareholders meeting of Landic Property hf.,
held on 29 January 2009, that the shareholders agree to grant the Board of
Directors of Landic Property authorization to continue the strategic review and
a restructuring of the company.  Such restructuring may, amongst others, lead
to the sale of assets that do not fit within the new strategy. This
authorization shall be effective until year end 2009. 

Item 3:
Other issues, lawfully submitted

The agenda and final submissions are available for shareholders at Landic
Property's headquarters. The documents will also be posted at
www.landicproperty.com 

Reykjavík, 21 January 2009,
Landic Property hf.