Results (in ISK millions): Key financial indicators for the parent company: * After-tax profit totalled ISK 6 billion for the first six months of the year, an increase of 24% over the same period in the prior year. * After-tax profit totalled ISK 3 billion for the second quarter. * Total assets at the end of June amounted to ISK 54,7 billion. * Equity totalled ISK 21,5 billion at the end of June. * Annualised return on equity was 70%. * The equity ratio is 39%. * Earnings per share the first six months of the year 1,91 Magnús Jónsson, CEO of Atorka: "The Group's earnings for the first six months of the year were very good. Successful sale of Jardboranir is a testament to effective implementation of the Group's investment policies. Atorka redeemed substantial profit by selling Jardboranir which appears in the strong financial standing of Atorka Group. We are primary investors in Geysir Green Energy and believe it to be an exciting investment option and believe that participation in developing the company offers us the opportunity to create considerable value. Atorka's other investments are lucrative and the development of Promens is highly successful as is Promens aim at security exchange listing under way. Our financial position is strong, we have immense investment capacity. Atorka is in a positive position and there are number of profitable growth opportunities that Atorka will take advantage of in the future." Chief events * Atorka Group 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. The effect on the parent company accounts in the second quarter is upwards ISK 4 billion. * Atorka purchased a 32% stake in GGE and is therefore a primary investor in the company. The total purchase price of Atorka's stake in Geysir is just over ISK 7 billion. * Jardboranir founded Hekla Energy in Germany to give the company an even greater competitive edge during the expanding process. Hekla energy will oversee drilling projects in Germany and other European locations. * Jardboranir signed a contract to purchase of and the purchase right to 3 high tech rigs for over ISK 6 billion to support expansion and growth abroad. * Promens new organisation chart Introduced in July to support further integration and growth. * Promens acqired Dekoplast in France which produces packaging for cosmetics and medical use. * Holding in Amiad increased to 20%. Amiad Filtration Systems is one of the world's most significant producers of water filtration solutions. Through strategic acquisitions, international expansions and substantial research and development investments, Amiad continues to strengthen its technology and market base. * Three companies in the healthcare sector sold, Icepharma, Parlogis and IIsanta Investment projects Promens Promens is a leading global plastics manufacturer operating over 60 manufacturing facilities in Europe, North America and Asia. The company manufactures a wide range of products, including packaging for food, cosmetics, chemicals and pharmaceuticals and serves multiple industries such as food processing, chemical and medical industries, as well as the automotive, heavy machinery and electronics industries. In continuation of the recent acquisitions made by Promens hf. the Board of Directors of Promens hf. has approved a new organisational structure for the company which took an effect July 1st 2007. The main objectives of the organisational changes are to integrate all the underlying businesses, increase efficiency and establish a strong base for further growth and development of the company. Promens revenue in 2007 is projected to be in the range of EUR 710 million, and the total number of employees is approximately 5,800. Fully diluted share of Atorka is 63%. Promens continues to aim at security exchange listing this year, precise timing will be in regard to market prices. Geysir Green Energy Geysir Green Energy is an investment company that seeks leading market opportunities in the harnessing of geothermal energy. Atorka became primary investor in August 2007 when 32% stake purchased in GGE. Geysir Green Energy invests in the development and construction of geothermal plants. Jardboranir is one of Geysir's investments. Jardboranir has grown considerable in the past few years and is now the largest global drilling company specializing in the exploitation of earth resources and geothermal drilling in renewable energy. Amongst other Geysir Green Energy investments are 32% stake in Hitaveita Sudurnesja hf., 47% share of Exorka International and 33, 3% stake in Enex and 20% stake in Western GeoPower Corporation. Interbulk InterBulk is one of the leading companys on the global market for specialized container logistical services for the chemical industry, but that industry makes a high demand for reliability. InterBulk operates with innovative technology and has strong management team. The company operates in a growth market. The main office is in Rotterdam and the company is listed on London AIM market. Atorka Group is the largest shareholder in Interbulk, with 40% of the shares. Clyde Process Solutions CPS is a world leader in the production of highly developed pneumatic conveying systems for production processes. These systems reduce costs and pollution and enhance efficiency in production processes. It is used in a number of sectors, including the production of gypsum, cement, and steel, as well as the food and chemical industry. CPS operates in every continent and is listed on the AIM market in London. Amiad Amiad is a leader in the international market for water filtration equipment and solutions. The marked is expanding considerably, with increasing demand for pure water. Heightened requirements in environmental affairs will increase the growth on present and new markets in next year's. Amiad is listed on the London Stock Exchange and Atorka's stake is 20%. Romag Romag is a global leader in the manufacture of specialised photovoltaic glass, which utilises daylight for the production of electricity. The market for such innovative solutions is rapidly growing. Atorka holds about 22% share in Romag. The company is listed on the London Stock Exchange's AIM market. Björgun Björgun is pioneer in the construction of wharves and coastal areas in Iceland. The company builds landfills and supervises the design of both residential- and commercial buildings that will be constructed in coastal areas. Key figures from the financial statements of the parent company: ISK millions Q2 2007 Q1 2007 Q4 2006 Q3 2006 Q2 2006 Net financial 2.985 3.406 1.720 833 1.224 income................. Operating (181) (296) (122) (173) (182) expenses............... Earnings before 2.804 3.110 1.599 660 1.042 taxes........... Income (200) (78) (287) (105) (168) taxes....................... Earnings after 3.004 3.032 1.312 555 856 taxes........... Outlook The operational outlook for Atorka's investments is good. Promens infrastructure is strong and systematicly continues to develop external growth. Promens aims at security exchange listing, precise timing will be in regard to market conditoins. Atorka's participation in Geysir Green Energy is exhilarating and the company believes it to be an exciting investment option and believe that participation in developing the company offers Atorka the opportunity to create considerable value. Atorka redeemed substantial profit by selling Jardboranir which gives the company latitude for new investment opportunities. Along with scoping out new investment opportunities Atorka intends to continue to support the build-up and expansion of the companies in its portfolio. Further information can be obtained from: Magnús Jónsson, Valdís Arnardóttir Chief Executive Officer, tel: +354 840 6240 PR & Communication Manager, tel: +354 840 6217 Atorka Group's interim financial statements can be found on the Company's website: www.atorka.is About Atorka Group Atorka is an investment company that supports progressive enterprises that take advantage of worldwide developments, assisting those companies in becoming global leaders. In its investments, Atorka seeks out companies that have sound operations and strong management and possess the potential for substantial internal and external growth. The Company targets projects with considerable potential for growth and value enhancement, aiming at investments for periods of 3-5 years. Atorka Group hf Hlídasmári 1 201 Kópavogur tel: +354 540 6200 - Fax: +354 540 6220 E-mail: [email protected]