Document:

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                              OFFICER'S CERTIFICATE

         I do hereby certify and represent that:

         1. I am the duly elected Secretary of deCODE genetics, Inc., a Delaware
corporation.

         2. Pursuant to Rule 306(a) of Regulation S-T, the following exhibit
10.37 to deCODE genetics, Inc.'s Annual Report on Form 10-K is a fair and
accurate English translation of a document prepared in the Icelandic language.

         IN WITNESS WHEREOF, I have signed this Officer's Certificate in my
capacity as Secretary of deCODE genetics, Inc. on this 21 day of March, 2002.

                                  By:        /s/ Tanya Zharov
                                             -----------------------------------
                                  Name:      Tanya Zharov
                                  Title:     Secretary and Corporate Counsel
<PAGE>
                                                                   Exhibit 10.37

Address Coding Guide 1.633.501
Unique Property Reference 189552
D-188, D-1727

                       THE MAYOR OF THE CITY OF REYKJAVIK

MAKES KNOWN: Pursuant to a decision of the Municipal Executive Board on 3
October 2000

ISLENSK ERFOAGREINING EHF., STATE REG. NO. 691295-3549, LYNGHALS 1, REYKJAVIK

is the lessee of the site Sturlugata No. 8, described in Article 1 below with
the following conditions:

1.    The area covered by the site STURLUGATA NO. 8, in the City of Reykjavik is
      18,271 M(2). Its shape and situation is shown in the attached plan of the
      Survey Department dated 21 December 2001, which is an integral part of
      this Agreement. Regarding the site, implementations and activities
      thereon, as well as the right of first refusal/purchase right of the
      University of Iceland, the Agreement between the University of Iceland,
      Islensk erfoagreining ehf. and the City of Reykjavik, dated 15 February,
      shall apply. Furthermore, the land use plan, approved by the Municipal
      Executive Board on 1 August 2000, shall apply to the site as well as
      general allocation terms issued by the Reykjavik Chief Municipal Engineer
      in November 1999, as applicable. The City of Reykjavik will use 50% of the
      selling price of the building rights of the site, excluding the basement,
      in support of the University of Iceland. Utilities charges for sewer
      systems shall be paid on demand.

      The site is subject to the following encumbrances:

      1.1   The University of Iceland holds the unconditional right of first
            refusal to the facilities on the site. In the event that the
            University of Iceland is invited to exercise its right of first
            refusal at a price that the institution does not accept, it may
            redeem the buildings at assessment value, i.e. the value of the real
            estate excluding furniture and internal fixtures and other chattels.
            The price and payment terms shall be decided by two court-appointed
            assessors and shall be based on the replacement value of the
            buildings, taking into account their condition. The parties agree
            that the site is part of the University campus. Through its
            allocation to Islensk erfoagreining ehf. the University of Iceland
            is establishing closer links to Icelandic industry, especially
            growth industries involved in the creation of knowledge and high
            technology. In the event that Islensk erfoagreining ceases operation
            on the site, the purchase option of the University of Iceland shall
            become active pursuant to item four of the Agreement dated 15
            February 2000.

      1.2   Encumbrances involve 1 parking space per 50 m(2) floor space in the
            buildings pursuant to terms and parking spaces for the handicapped.
            Their arrangement is shown in the attached plan.

      1.3   Encumbrance involving a substation owned by Reykjavik Energy,
            installation of underground cable to the substation as well as
            accessibility to the substation.

      In addition there are general encumbrances regarding all kinds of cables
      or pipes of the Municipal Treasury or its agencies that may be needed The
      Siteholder is under obligation to comply with the terms of the Reykjavik
      Chief Municipal Engineer regarding facilities on the site, utilities,
      cables and finishing work on the site.

2.    The site is leased for scientific and professional activities in the field
      of health science and biotechnology research, and the use of the
      facilities on the site is restricted to high-technology, research
      activities and university-level teaching.

3.    The Siteholder under obligation to complete all finishing work on the site
      in accordance with the zoning plan. In the event that such finishing work
      has not been completed within
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      two years, as of the signing of the site lease, the Reykjavik Chief
      Municipal Engineer may have the relevant finishing work carried out at the
      expense of the Siteholder.

4.    The site is leased for 50 years, starting 1 December 2001.

5.    The Siteholder shall pay all public taxes and levies that are imposed, or
      may be imposed, on the leased site. Property taxes, the site rent, public
      levies, taxes, interest and penalty interest are subject to attachment.

6.    Annual rent of the site is decided in accordance with a regulation on rent
      for industrial sites in Reykjavik.

7.    Collection and due dates of the rent are governed by the rules on property
      tax collection in Reykjavik as current at any time. The same rules shall
      apply to interest and penalty interest. Property taxes, the site rent,
      public levies, taxes, interest and penalty interest are secured by a lien
      on the buildings and installations.

      The Siteholder and his mortgagees are under the obligation to comply in
      the event that legislation is amended to the effect that property taxes,
      site rent, public levies, taxes, interest and penalty interest shall take
      priority over mortgages on the property.

8.    In the event that the Mayor, at the close of the lease term, decides that
      the buildings, situated at that time on the site, shall be removed, the
      Mayor shall pay the Siteholder the actual worth of the building in
      accordance with the appraisal of two court-appointed persons.

9.    The University of Iceland shall have limited use of lecture rooms, meeting
      facilities, teaching facilities and student facilities in the buildings of
      Islensk erfoagreining ehf. insofar as the activities of the company
      permit. Islensk erfoagreining ehf. may assign construction rights or
      facilities on the site to a third party on the terms and with the duties
      and obligations inherent in the Agreement of 15 February 2000. Thus,
      Islensk erfoagreining ehf. may e.g. contract with a financing company to
      construct, own or operate buildings on the site, on the condition that
      this does not in any way adversely affect or curtail the rights of the
      University of Iceland or its interests. Islensk erfoagreining ehf. may
      redeem the construction rights or buildings on the site from a third party
      without activating the right of first refusal of the University of Iceland
      pursuant to Section 4. The Siteholder may sell or pledge the lease rights
      to the site as a whole, including buildings and facilities constructed on
      it, with the restrictions described above.

The Siteholder shall pay the cost of registration and stamping of the Lease
Agreement. Three copies are made of this Lease Agreement of which one is
intended for registration.

The Mayor of Reykjavik, 21 December 2001

In confirmation of our agreement to the above
For Islensk erfoagreining ehf.
Tomas Sigurosson [sign.]

            Real estate assessment of the site              ISK 115,087,000.-
                      Annual rent 1%                        ISK 1,150,870.-

Witnessed by:
Sturlugata 8

Guorun E Andradottir [sign.]
Id. No. 200958-6759

Regina H. Siguroardottir [sign.]
Id. No. 090678-3379<PAGE>
                              OFFICER'S CERTIFICATE

         I do hereby certify and represent that:

         1. I am the duly elected Secretary of deCODE genetics, Inc., a Delaware
corporation.

         2. Pursuant to Rule 306(a) of Regulation S-T, the following exhibit
10.38 to deCODE genetics, Inc.'s Annual Report on Form 10-K is a fair and
accurate English translation of a document prepared in the Icelandic language.

         IN WITNESS WHEREOF, I have signed this Officer's Certificate in my
capacity as Secretary of deCODE genetics, Inc. on this 21 day of March, 2002.

                                  By:        /s/ Tanya Zharov

                                             -----------------------------------
                                  Name:      Tanya Zharov
                                  Title:     Secretary and Corporate Counsel
<PAGE>
                                                                   Exhibit 10.38

                 AGREEMENT ON THE DETAILS OF THE ARRANGEMENT OF
                       ENCUMBRANCES IN THE SITE AGREEMENT

On 15 February 2000, the University of Iceland (UI), Islensk erfoagreining ehf.
(IE) and the City of Reykjavik entered into an Agreement on the allocation of a
building site to IE. The aim of the Agreement is to promote co-operation and
encourage the development of vigorous scientific and industrial activities in
the field of health science and biotechnological research in the University
campus area.

The Agreement contains provisions, inter alia, on the purchase rights and right
of first refusal at assessment value for UI, to be further defined in a Site
Agreement.

IE and UI have now agreed on the following arrangements of the above
encumbrances in the final Site Agreement for the property.

1.    UI has the right of first refusal to the property. UI shall be offered the
      right of first refusal in writing and in a verifiable manner at a price
      that shall be the lower of the two following options: (a) the offered
      selling price or (b) the depreciated replacement value of installations on
      the site pursuant to public records plus the restated purchasing price of
      the site rights. The selling price and other terms shall be specified in
      detail in the offer submitted for first refusal and the offer shall be
      accompanied by a copy of the purchase offer that UI is invited to take
      over. In the event of an exchange of properties, the purchase offer shall
      specify the estimated cash value of the offered rights and that amount
      shall be used in the determination of the price presented to the holder of
      the right of first refusal. In the event that the price offered to the
      holder of the right of first refusal is the depreciated replacement value
      of installations on the site and the public valuation of the site, UI
      shall pay the purchasing price in cash within 15 days from the date that
      the University accepted the offer to exercise its right of first refusal.
      UI shall reply in writing to the offer to exercise its option within 30
      days from the date of receipt by the University of the offer. In the event
      that UI neglects to answer within that time the University shall forfeit
      its right to purchase.

2.    In the event that IE ceases its activities on the site, UI shall be
      invited to purchase the property at the depreciated replacement value of
      installations on the site and the adjusted purchasing price of the site
      rights pursuant to item 2 above. The activities of IE are not regarded as
      having ceased if:

            a)    IE is merged with another company, whether the merger is
                  effected through the take-over by IE of another company, the
                  take-over of IE by another company or the establishment of a
                  new company where the merged company continues activities on
                  the site.

            b)    IE is divided into more than one company and one of these
                  continues activities on the site, provided that the activities
                  on the site constitute high-tech industry, research and
                  university-level teaching.

In witness of the above, the parties attach their signatures to this annex in
the presence of witnesses.

                                     Reykjavik, 21 December 2001

For the University of Iceland        For Islensk erfoagreining ehf.
Pall Skulason [sign.]
                                     Tanja Zharov [sign.]
Witnesses                            [Illegible signature]
Tomas Sigurosson [sign.]             Kari Stefansson, [sign.]
180966-3159

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