**Exhibit 10.1**

 

**[English Translation ofOriginal Icelandic Language Document]**

 

# **Purchase Agreement**

 

## **1. PARTIES**

 

Vetrargardurinn ehf., State Reg.No. 581201-2490, of Sturlugata 8, Reykjavík, hereinafter referred to asthe Seller, promises to sell, and Festing ehf., State Reg. No. 550903-4150,of Kringlan 4-12, Reykjavík, hereinafter referred to as the Buyer, promises tobuy, the property at Sturlugata 8 in Reykjavík, as further detailed in thisAgreement.

 

**2.DESCRIPTION OF THE PROPERTY**

 

The propertyconsists of the real estate at Sturlugata 8, Reykjavik, with all appurtenances,including land rights; the real estate is situated on 18,271 m2 ofleased land. The fixed registration number of the real estate is 225-6085. Thereal estate consists of a 15,228.6 m2 of research and officepremises, together with two parking facilities, Reg. No. 225-6071 and 225-6072,in addition to gas storage facilities, Reg. No. 226-6837, according to therecords of the Icelandic Valuation Office.

 

**3.PRICE AND DELIVERY**

 

The agreed priceof the property is ISK 3,400,000,000, – *threethousand and four hundred million Icelandic krónur* – to be paid incash on 31 March 2005. The property is to be delivered free of liens;there are currently three general bonds registered on the real estate, of whichthe seller is the bearer, ranking from 1-3; the Seller will transfer thesesecurities for the Buyer’s use concurrently with the execution of thisAgreement.

 

The Buyer willpay all taxes and dues on the property from the date of delivery and receiveall revenues from the property from the same day.

 

**4.PREMISES OF THE AGREEMENT**

 

It isunderstood that the property is in good condition on delivery, taking intoconsideration its age and the use for which the property is intended, and theSeller will ensure that there are no unfulfilled requirements from anyregulatory authorities regarding improvements to the property, which shall meetall conditions made by any public authorities regarding the property.

 

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**5.CONVEYANCE OF TITLE**

 

A conveyanceof title will be issued on 1 April 2005, when the parties have dischargedtheir obligations hereunder.

 

**6.OTHER.**

 

Concurrentlywith the execution of this Agreement, the parties enter into a Lease Agreementconcerning the property, which is a premise for the conclusion of thisAgreement and forms an integral part hereof.

 

On thesignature of this Purchase Agreement a transcript has been made available fromthe register of liens, dated 29 March 2005, as well as a certificate fromthe Valuation Office of Iceland of the same date. Also in evidence is a copy ofthe site lease agreement, together with a copy of an officially registeredstatement and an encumbrance dated 21 December 2001, relating to rightsheld by the University of Iceland.

 

This PurchaseAgreement is grounded in Act No. 40/2002, on the Sale of Real Estate. TheBuyer will pay all public charges relating to this Purchase Agreement,including stamp duties and registration fees. Any dispute arising in respect ofthis Agreement shall be conducted before the District Court of Reykjavík.

 

In witness ofthe above, the Buyer and the Seller have signed this Agreement in the presenceof witnesses.

 

Reykjavík, 29 March 2005

 

 
| For  Vetrargardurinn ehf.     |   | For Festing  ehf.                    |
|-------------------------------|--------|--------------------------------------|
|                          |   |                                 |
| Tómas  Sigurdsson [sign] |   | Jóhann  Halldórsson [sign] |

 

 

Witnesses tothe correct date and signatures

 

Ingvi Hrafn Óskarsson [sign]

Eiríkur Benónýsson [sign]

 

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