[English Translation of Original Icelandic Language Document]
Vetrargardurinn ehf., State Reg. No. 581201-2490, of Sturlugata 8, Reykjavík, hereinafter referred to as the
Seller, promises to sell, and Festing ehf., State Reg. No. 550903-4150, of Kringlan 4-12, Reykjavík, hereinafter
referred to as the Buyer, promises to buy, the property at Sturlugata 8 in Reykjavík, as further detailed in this
2. DESCRIPTION OF THE PROPERTY
The property consists of the real estate at Sturlugata 8, Reykjavik, with all appurtenances, including land rights;
the real estate is situated on 18,271 m 2 of leased land. The fixed registration number of the real estate is 225-
6085. The real estate consists of a 15,228.6 m 2 of research and office premises, together with two parking
facilities, Reg. No. 225-6071 and 225-6072, in addition to gas storage facilities, Reg. No. 226-6837, according
to the records of the Icelandic Valuation Office.
3. PRICE AND DELIVERY
The agreed price of the property is ISK 3,400,000,000, – three thousand and four hundred million Icelandic
krónur – to be paid in cash on 31 March 2005. The property is to be delivered free of liens; there are currently
three general bonds registered on the real estate, of which the seller is the bearer, ranking from 1-3; the Seller will
transfer these securities for the Buyer’s use concurrently with the execution of this Agreement.
The Buyer will pay all taxes and dues on the property from the date of delivery and receive all revenues from the
property from the same day.
4. PREMISES OF THE AGREEMENT
It is understood that the property is in good condition on delivery, taking into consideration its age and the use for
which the property is intended, and the Seller will ensure that there are no unfulfilled requirements from any
regulatory authorities regarding improvements to the property, which shall meet all conditions made by any public