ICELANDAIR – THE AMERICAS NAMED OFFICE OF THE YEAR 2004

Columbia, MD, March 1, 2005 - Icelandair - The Americas was named Office Of The Year 2004 at the Icelandair General Managers meeting held in Reykjavik, Iceland last week. The internal sales office competition is a long tradition within the Icelandair organization and promotes superior efforts by everyone. In addition to the United States, Icelandair has sales offices in Iceland, Scandinavia, the U.K., Germany, France and Finland.

“It is a prestigious title to earn, and we here in the U.S. are very happy to see our many efforts pay off so well,” He attributes the success to good planning and execution of sales and promotions in all key distribution channels of the airline, a constant monitoring of competition and booking figures, creative marketing, and a great dedication and willingness to excel among all U.S. staff members.

Icelandair continues to grow and thrive in a very competitive market. “Last week, Eklund said, “the Icelandair Group announced its biggest yearly net income ever – ISK 3.4 billion (approximately $55.7 million) for 2004.

“The U.S. market has played a strategic and important role in this accomplishment, and we are committed to continue the success into 2005,” he added, “when we inaugurate our sixth U.S. Gateway – San Francisco”.

Icelandair U.S. gateways offer nonstop service from New York (JFK), Boston, Baltimore/Washington (BWI), Minneapolis/St. Paul, Orlando and San Francisco (starting May 18, 2005) to the airlines hub in Reykjavik, Iceland. Nonstop flights continue to Denmark, Norway, Sweden, Finland, Great Britain, Germany, Holland and France.

For additional information please contact your Professional Travel Agent, call Icelandair at (800) 223-5500 or visit www.icelandair.com