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Iceland Stock Exchange: Most Traded Companies For The Second Half Of 2002

Date 19/06/2002

ICEX has selected the most traded shares for the second half of 2002. The method for selection is in line with the practice in the other NOREX exchanges. The selection of most traded shares is reviewed twice a year for the period beginning 1 January and for the period beginning 1 July each year. The basis for selection is the turnover in the previous twelve months and the market value on the date of selection. The conditions are variable in order to reflect the market conditions at each time.

At this time the conditions for inclusion in the most traded group are a twelve-month turnover in excess of ISK 5 billion (EUR 59.3 million) and a minimum market value of ISK 10 billion (EUR 118.6 million). It is possible that newly listed companies are included in the most traded group if a high turnover is expected with the shares in question. A company may also be included if its shares have been much traded in the weeks before the selection due to some changes in company operations or conditions, even though the turnover does not amount to ISK 5 billion in the twelve-month period. Shares on all ICEX lists are candidates for the selection of most traded shares.

The shares selected at this time are (by turnover ratio):

Islandsbanki hf.
Pharmaco hf.
Kaupthing Bank
Össur hf.
Delta hf.
Baugur Group
Bunadarbanki Islands hf.
Tryggingamidstödin hf.
Samherji hf.
Landsbanki Islands hf.
Eimskipafelag Islands hf.

At this time 11 companies are included in the most traded group. There are three newcomers to the group: Bunadarbanki Islands, Delta and Eimskipafelag Islands. The shares replaced are: Bakkavör Group and Sjova-Almennar.

For the most traded shares the trading lot in the trading system is twice as big as the trading lot of other shares. Trading in smaller amounts is possible, while small trades do not affect the price formation. The companies belonging to the most traded group are encouraged to publish their announcements simultaneously in Icelandic and English to give foreign investors access to information on the companies' activities.