The following individuals are candidates for the Board of Directors of Icelandair Group hf. for the Annual General Meeting on March 13, 2007. Board Members: Einar Sveinsson, kt. 030448-2789, Bakkaflöt 10, Garðabæ. Finnur Ingólfsson, kt. 080854-3829, Jöklafold 15, Reykjavík. Gunnlaugur M. Sigmundsson, kt. 300648-3719, Þverárseli 20, Reykjavík. Helgi S. Guðmundsson, kt. 291248-7569, Dísarási 14, Reykjavík. Hermann Sævar Guðmundsson, kt. 200162-4049, Sævangi 27, Hafnarfirði. Jóhann Magnússon, kt. 010256-4539, Skógarhæð 7, Garðabæ. Ómar Benediktsson, kt. 221059-4689, Ægisíðu 58, Reykjavík. Alternate Board Members: Marta Eiríksdóttir, kt. 251257-5159, Vesturbrún 33, Reykjavík. Guðsteinn Einarsson, kt. 050654-4949, Kveldúlfsgötu 13, Borgarnesi. Jón Benediktsson, kt. 161064-3359, Hæðarbyggð 23, Garðabæ. Further Informarion on Board Members are available at the Icelandair Group Head Office, Reykjavik Airport. According to the Articles of Association of the Company seven members chall be elected for the Board. Therefore it is clear that the above seven candidates will be elected for the Board without ballot at the Annual General Meeting. The Board of Directors propose to the Annual General Meeting that the number of alternate members of the Board of Directors of the Company should be increased from two to three. If that proposal will be agreed to, then the three above candidates will be elected without ballot, but if not, there will be an election by ballot.