Resolution to approve the recommended acquisition of Geest Plc by Bakkavör Group passed by shareholders

Shareholders of Geest Plc have approved the recommended acquisition of the company by Bakkavör Group made on 8 March according to an announcement made by Geest Plc. The effective date of the acquisition is expected on 13 May and the expected payment date to shareholders is 27 May. Following the Group’s acquisition of all outstanding shares in Geest Plc the company is expected to be delisted from London Stock Exchange on 16 May 2005.

For further information please contact:

Lýður Guðmundsson CEO

Tel: +44 20 8728 5000

Hildur Árnadóttir Financial Director

Tel: +354 550 9700