Private placement to institutional investors successfully concluded


A private placement of new shares in Marel Food Systems hf. to institutional
investors was successfully completed today, Friday, 5 June 2009. Offers for a
total of 26,567,963 shares were received. The company's Board of Directors
decided to accept all offers, the vast majority of which were from pension
funds, at the price of ISK 54 per share. The gross proceeds from the private
placement amount to ISK 1,434,670,002 which equals €8.3 million. 

The company's Board of Directors has consequently determined to increase the
company's share capital by 26,567,963 shares, representing an increase of 4.6%.
After the private placement, the total share capital of Marel Food Systems is
606,868,275 shares. 

New Kaupthing Bank hf. (Kaupthing) managed the offering, the purpose of which
was to further strengthen the company's liquidity, increase flexibility and
reduce operational risk. 

Theo Hoen, CEO of Marel Food Systems, expressed satisfaction with the positive
response to the private placement from institutional investors. “Marel Food
Systems hf. appreciates the trust that investors and banks have shown in the
company in this private placement and the recent refinancing of our long-term
debts. In recent weeks we have strengthened the company's finances and secured
stable long-term financing and are now able to fully  focus on the
opportunities ahead.” 

The purchase price of the new shares is to be paid on Thursday, 11 June 2009.
Marel will request that the new shares be admitted for trading on Nasdaq OMX
Iceland no later than Monday, 15 June 2009. 

Marel Food Systems is the leading global provider of advanced equipment and
systems for the food processing industry. It is a multinational company, with
close to 3,700 employees worldwide offices and subsidiaries in over 30
countries. Turnover of core business in 2008 amounted to €548 million. 

For further information please contact: 
Theo Hoen, CEO of Marel on +354 563 8000 
Arnar Ragnarsson, Head of Investment Banking at Kaupthing Bank on + 354 444 7000