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Icelandic Salmon AS

Legal Proceedings Report May 6, 2008

3632_rns_2008-05-06_4678568d-9dca-4189-9596-386664a521fe.html

Legal Proceedings Report

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Disclosure 258516

Icelandic Group hf. - Company Announcement

- Redditch Site Closure

Coldwater Seafood has reached agreement with the Redditch workforce and the trade union Unite to close the site following the 90 day consultation process which started in early March. Redundancy terms have been agreed with the workforce and an expected closure date of 6th June 2008 has been confirmed. The meals business at Redditch will be transferred to Coldwater's two sites in Grimsby. A product transfer plan is underway along with the preparations to decommission the factory following the closure date. For further information please contact: Finnbogi A. Baldvinsson, CEO + 49 1723 198 727

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