Shareholder Meeting 1st of July 2008


The Board of Directors of 365 hf. calls for a Shareholder Meeting in the
Company which will be held at Hilton Reykjavík Nordica on Tuesday 1st of July
2008 at 2 p.m. 

Agenda: 

1.Proposal that the Board shall request that the Company‘s shares will be
delisted from OMX Nordic Exchange in Iceland. 

2.Proposal to authorize the Board to purchase shares in 365 hf. from
shareholders that so request. The offer shall be valid until 11th of July 2008
at 4.00 p.m. The purchase price shall be share price of 1.20 

3.Proposal to authorize the Board in relation to proposal cf. 2 here above to
purchase up to 15% 365‘s own shares for the nominal value of ISK 1.20 per
share. The authority shall be valid until 31st of July 2008. If 365 hf.
acquires over 10% of the share capital the Board of Directors shall reduce the
share capital in accordance with law, so that total shares held by 365 hf. in
the Company amounts to no more than 10% of the share capital. 

Ballots will be available at the shareholders meeting and only votes of
shareholders that are at 11.a.m. 1st of July registered in the registry of
shares of the company will be counted at the shareholders meeting. 

The Board of Directors of 365 hf.