20 Years Anniversary Conference 2 March 2006

NEW YORK CONFERENCE HIGHLIGHTS ICELAND’S

WARM CLIMATE FOR INVESTMENT

Icelandic Minister of Industry and Commerce and Time Warner V.P. Explain

Attractive Investment Opportunities with America’s Closest European Neighbor

Thursday, Mar. 2, Millennium UN Plaza Hotel (44th Street), 9 a.m. – 2 p.m. 

Iceland, a nation primarily known for its geothermal spas and unspoiled nature, is quickly gaining attention for other attractive traits: a suddenly booming investment structure and huge incentives for U.S. businesses. The Icelandic-American Chamber of Commerce (IACC) will host a one-day conference and luncheon identifying Icelandic investment opportunities with guest speakers covering a range of topics, from Iceland’s hottest sectors and low energy costs, to bank privatization and tourism. IACC Chairman and Time Warner Executive Vice President Olafur Johann Olafsson will join Icelandic Minister of Industry and Commerce Valgerdur Sverrisdottir, and Goldman Sachs Vice President and Senior Economist Ed McKelvey, among others, as speakers and moderators for the event.

 Other companies represented: Actavis, ALCOA, Century Aluminum, FL Group, Landsbanki Islands, Nordic Investment Bank, Ossur, Sjova, and Straumur-Burdaras  Investment Bank.

Iceland, America’s closest European neighbor, ranks fifth in the 2006 Index of Economic Freedom, published by The Wall Street Journal and the World Heritage Foundation. It tied with the U.K., and was well ahead of 11th-ranked U.S. What’s more, the country ranks fourth in competitiveness worldwide according to the IMD World Competitiveness Yearbook 2005, following the U.S., Hong Kong and Singapore.

WHAT: Icelandic-American Chamber of Commerce investment conference and luncheon.  

WHEN/ WHERE: Thursday, March 2, 9 a.m. – 2 p.m.; Millennium UN Plaza Hotel, 44th Street between First and Second Avenues, New York 

WHO:  Olafur Johann Olafsson, Exec. VP, Time Warner; Valgerdur Sverrisdottir, Minister of Industry and Commerce; Ed McKelvey, VP and Senior Economist, Goldman Sachs; and others.

MEDIA CONTACT:  Jeff Blumenfeld, Jamie Gribbon, Blumenfeld and Assoc. PR,  212 764 1690, cell 203 326 1200, blumjamie@aol.com