Reykjavik, ICELAND, October 28, 2008 – deCODE genetics, Inc. (Nasdaq:DCGN) today announced that it will report its third quarter 2008 financial results in a press release to be issued on Thursday, November 6, after the close of the market in New York. The company will host a live webcast of its conference call to discuss these results and recent operating highlights on Friday, November 7, at 8am EST/1pm GMT.

The webcast can be accessed through the Investors page of deCODE’s website, www.decode.com, or through www.earnings.com. Please log in to the webcast 15 minutes prior to the scheduled start of the call. The call will be archived for at least a week on each site. For those unable to listen to the webcast because of company firewall or other issues, a digitized audio replay will also be available by telephone from approximately 11:30am ET on Friday, November 7 and for one week thereafter. The dial-in replay numbers are: 1 (800) 475-6701 in the U.S., and +1 (320) 365-3844 for those calling from outside the U.S. The access code is 967723.

Any statements contained in this presentation that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results, and the timing of events, to differ materially from those described in the forward-looking statements. These risks and uncertainties include, among others, those relating to our ability to obtain financing and to form collaborative relationships, the effect of a potential delisting of our common stock from The Nasdaq Global Market, uncertainty regarding potential future deterioration in the market for auction rate securities which could negatively affect our cash position and result in additional permanent impairment charges, our ability to develop and market diagnostic products, the level of third party reimbursement for our products, risks related to preclinical and clinical development of pharmaceutical products, including the identification of compounds and the completion of clinical trials, the effect of government regulation and the regulatory approval processes, market acceptance, our ability to obtain and protect intellectual property rights for our products, dependence on collaborative relationships, the effect of competitive products, industry trends and other risks identified in deCODE’s filings with the Securities and Exchange Commission, including, without limitation, the risk factors identified in our most recent Annual Report on Form 10-K and any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. deCODE undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.