Annual Results for 2007

Annual Results 2007 for Atorka Group hf.:
Key financial indicators for the Group:

  * Atorka Group's consolidated loss after taxes totalled ISK 900
    million.
  * Loss in the fourth quarter totalled ISK 3.373 million.
  * Earnings for 2007 totalled ISK 71.3 billion.
  * The Company's total assets at the end of the year were ISK 103.7
    billion.
  * Equity was ISK 9 billion at the end of the year.

Key financial indicators for the parent company:

  * After-tax profit in 2007 totalled ISK 8.141 million
  * Profit after tax in the fourth quarter was ISK 1.371 million
  * Total assets at the end of 2007 amounted to ISK 62.325 million,
    assets grew by 45% from year's end 2006.
  * Equity totalled ISK 23.376 million on 31 December 2007, which is
    an increase of 36% from year's end 2006 ex-dividend.
  * Annualised return on equity was 47%.
  * The equity ratio is 38%.
  * Earnings per share at year's end is 2,58

Main events

  * Atorka concluded the sale of its entire holding in Jardboranir to
    Geysir Green Energy. The Enterprise Value of the sale is ISK 17.7
    billion.  Atorka's total gain since the beginning of its
    investment amounts to ISK 11 billion before taxes.
  * Atorka has refinanced big portion of its short-term borrowings,
    with new long term loans payable in 2 years or later. Only 9% of
    the company's long term borrowings are due in 2008.
  * Atorka became a primary investor in Geysir Green Energy in August
    2007, with 32% stake. In February 2008, Atorka increased its
    share in Geysir and became the largest shareholder with 44%
    stake.
  * Jardboranir made an agreement with Landsvirkjun about drilling
    five exploration holes next year.
  * Jardboranir founded Hekla Energy in Germany and Hekla Energy has
    already started drilling projects there for Exorka.
  * Geysir Green Energy is the largest proprietor of geothermal
    licenses in Germany.
  * Geysir Green Energy purchased Landsvirkjun's share in Enex and
    raised its stake to approximately 72%.
  * Iceland America Energy, a subsidiary of Enex, is involved with
    many projects in the US and started to drill their first
    geothermal exploration well, in Truckhaven in California.
  * Promens concluded refinancing in cooperation with DnB NOR, Nordea
    and LBNord. This capitalization ensures the company further
    growth and investment opportunities and enables them subsequent
    buy and build strategy.
  * Promens acquired three additional packaging companies in 2007;
    Novoplast in Russia, Decoplast in France and STE packaging in
    Spain. Promens opened a new plant in Polland and the company is
    looking into further investments in Eastern Europe.
  * In November, Promens consolidated its entire operations under one
    name.
  * Atorka increased its share in Interbulk to 40% in 2007 in
    connection with the acquisition of UBC a leader in specialised
    logistics services mainly for the chemical industry.
  * Atorka acquired 30% stake in Clyde Process Solution (CPS). Atorka
    supported CPS in its acquisition of MAC, a leading US provider of
    pneumatic conveying and air filtration technologies.
  * Atorka's holding in Amiad Filtration Systems increased to 23%.
    Amiad is one of the leading producers of water filtration
    solutions. This market is expanding considerably.
  * Atorka added a new investment within the waste-water industry by
    acquiring about 14% stake in Asia Environment Holdings. Asia
    Environment recently concluded a 200.000 m3 water-waste treatment
    plant in China which the company will own and run for the next 20
    years. The company is also involved in the development of
    numerous comparable projects in Asia.
  * Atorka acquired approximately 24% stake in Shanghai Century
    Acquisition Corp (SHA) which is listed on the AMEX stock market
    in New York. SHA recently invested in a structured and
    specialized financial leasing company in China. This market is
    still somewhat underdeveloped in China and offers therefore vast
    growth opportunities. SHA had reported the acquisiton of a
    Chinese generic pharmaceutical company pending approval from
    Chinese Authorities. On 20 February 2008, SHA announced that the
    acquisition had been terminated.
  * Atorka completed the sale of its investments in the health care
    sector; Icepharma, Parlogis and Ilsanta.
  * All investments are reported at fair value and they are fully
    disclosed in the company's results. The company has a strong
    financial position, is well financed and has solid cash balance.

Magnus Jonsson, CEO of Atorka Group:"Atorka's earnings  in  2007  were good  despite  challenging  market
conditions. Atorka realized substantial profit by selling one of  its
investment projects.  At  the same  time  Atorka invested  in  a  new
project, Geysir  Green Energy  and  in February  2008 we  became  the
largest shareholder with 44% holding. Geysir is currently working  on
many projects in Europe, USA and Asia. Geysir has a the objective  to
become a  world leader  in  the development   of  geothermal  energy.
Atorka has, to  greater extant,  been looking  towards investment  in
Asia. Most  recently  we  acquired  14%  stake  in  Asia  Environment
Holdings, which is one of the leading companies in the development of
waste - water treatment plants in China and other countries in  Asia.
With increased prosperity China  is expected to invest  significantly
in improved  quality of  life and  in relation  to that  Atorka  sees
investment opportunities in that field. Atorka has a strong financial
profile and is  therefore in  a good  position to  take advantage  of
opportunities coming along in the near future."

For further information contact:
Magnus
Jonsson,
Chief       Executive       Officer,       tel:       +354        540
6200

Valdis Arnardóttir
PR & Communication Manager, tel: +354 840 6217

Atorka Group's  interim  financial statements  can  be found  on  the
Company's website: www.atorka.com