The isec Market Becomes Part Of The OMX Alternative Market First North

As of January 3, 2007, the Nordic Exchange in Iceland?s alternative market isec will be integrated into First North, the alternative market of OMX. First North offers smaller and growing companies easy access to the Nordic and global financial markets.

The alternative market in Iceland will change its name to First North and adopt the common First North rule book.

Following the integration of Icelandic companies on First North, the alternative market offers listing and trading in ISK-, SEK-, EUR- and DKK denominated shares. Companies are able to disclose information in Icelandic, English, Swedish, Danish or Norwegian. Companies on First North Iceland will be included in the First North All Share index which will also be available in ISK.

Through First North, smaller and growing Icelandic companies get access to Europe?s largest pool of liquidity and gain increased visibility among investors. Measured in number of companies, First North is Europe?s second largest alternative market. For companies considering going public, we believe First North presents great opportunities? says Thordur Fridjonsson, President of the Nordic Exchange in Iceland.

The companies on First North are classified according to the international Global Industry Classification Standard (GICS). The industry classification facilitates international benchmarking of the companies by providing clearly defined and larger peer groups.

The adoption of the First North rule book entails, among other things, the introduction of the Certified Adviser concept in Iceland. This means that companies admitted to trading on the market are required to engage the services of advisers certified by the exchange to guide them through the admission process. Certified advisers are also obliged to assist the companies in satisfying their disclosure requirements after they get admitted to trading.