Reference is made to notification 27 November 2006 regarding Atorka’s assumption of Jarðboranir’s bond issues in parallel with Jarðboranir’s refinancing.

 

It is hereby notified that 30 December 2006 a shareholders’ meeting was held in Jarðboranir which approved the split which was described in the notification 27 November 2006. That same day Atorka Group’s board of directors approved a merger proposal on the takeover of the holding company which assumes the bond issues at Jarðboranir’s split.

 

The transactions described in the notification 27 November 2006 have thus been concluded.

 

For further information contact:

Magnús Jónsson, Atorka’s CEO, tel. +354 840-6240

Bent Einarsson, Jarðboranir’s CEO, tel. +354 858-5210