News

05.03.08

Eimskip extends loan guarantee in relation to the disposal of XL Leisure Group

Hf. Eimskipafelag Islands (OMX: HFEIM), the international transportation and logistics company, today announced that it has extended its loan guarantee granted to the purchasers of XL Leisure Group, in relation to the disposal of the company in October 2006. The guarantee of US$ 280 million was due to expire on the 5th of March 2008, but due to market conditions in global financial markets, the guarantee has now been extended until the 5th of May 2008.  This has been done to enable XL Leisure Group to complete its refinancing.

Fur further information

Halldor Kristmannsson

Executive VP of Corporate Communications

Tel: (+354) 840 3425

E-mail: halldor.kristmannsson@eimskip.is

About Eimskip

Hf. Eimskipafelag Islands(OMX: HFEIM), international transportation and logistics company is publicly listed on the Icelandic Stock Exchange. The company has over 90 years of experience in providing transportation, warehousing and logistics services in Europe, primarily in the North Atlantic region.