Landsafl ehf. announced on 29 April 2009 that the company will not publish its annual results for 2008 before the end of April 2009. However, Landsafl ehf. would like to inform that the company´s equity is negative according to preliminary un-audited annual results for 2008. This is mainly due to the depreciation of the Icelandic Krona as the company is mostly financed with loans in foreign currencies. Work is being done to restructure the company and to restore the equity. Landsafl ehf. has issued secured bonds under the ticker symbol LAFL 03 1. These bonds are secured with a pledge in a property and the rent is pledged to pay the bonds´ interests and amortizations payments. The tenant is the Icelandic government and the lease agreement is long-term. The bond LAFL 03 1 is not in default. For further information please contact: Vidar Thorkelsson, CEO of Landic Property hf. and chairman of Landsafl ehf. Tel: +354 575 9000