New risk variants published today will also be folded into deCODEme™

Reykjavik, ICELAND, February 10, 2008 – deCODE genetics (Nasdaq: DCGN) today announced the launch of deCODE PrCa™, a reference laboratory test for common, single-letter variations in the human genome (SNPs) that the company has associated with increased risk of prostate cancer. deCODE believes the test will be useful for better predicting risk of prostate cancer, helping to optimize both screening and treatment. deCODE PrCa™ detects a total of six previously discovered SNPs that have been confirmed in many populations, as well as two SNPs on chromosomes X and 2 that are reported by deCODE scientists in a paper published today in the online edition of Nature Genetics. Although most of the variants individually confer moderate risk, they are common and some are linked to more than less aggressive disease. Consequently, a substantial proportion of men have many risk variants that together confer clinically significant risk. Because of these variants, 10% of men are at twice the risk and 1% of men are at three times the risk of the disease in the general population.

“Through deCODE PrCa™, we are bringing together in one tool all of the major genetic risk factors for prostate cancer that we have discovered over the past eighteen months. We believe that this is a test with significant clinical utility for improving and personalizing the screening and treatment of one of the most common cancers. At the same time, we will integrate today’s discovery into the prostate cancer module in our personal genome analysis service deCODEme™, enabling our subscribers to stay abreast of how the latest discoveries in human genetics may relate to their genome,” said Kari Stefansson, CEO of deCODE.

Today’s discovery is a result of the genome-wide analysis of over 300,000 SNPs in 23,000 Icelanders in deCODE’s prostate cancer studies, a finding subsequently replicated in a total of over 15,500 individuals from seven different cohorts from Europe and the United States. One of the SNPs is located on the X chromosome and the other SNP is located on chromosome 2p15 and is associated with a more aggressive form of prostate cancer. The paper, ‘Common sequence variants on 2p15 and Xp11.22 confer susceptibility to prostate cancer,’ can be found at www.nature.com/ng. deCODE PrCa™ is the latest in a series of reference laboratory DNA-based tests for assessing risk of and improving prevention and treatment for common diseases.

deCODE gratefully acknowledges the participation of the Icelandic patients and control subjects in its prostate cancer programs, as well as the patients and researchers from 15 academic medical centers in Europe and the United States who took part in the replication of the discovery published today.

How to order deCODE PrCa™
deCODE PrCa™ is performed in deCODE’s Clinical Laboratory Improvement Amendments (CLIA) certified laboratory, and must be authorized by a qualified physician. If you are an individual who would like more information on deCODE PrCa™ to discuss with your doctor, or a physician interested in learning more about deCODE PrCa™ for your patients, please visit us at www.decodediagnostics.com.

About deCODE
deCODE is a biopharmaceutical company applying its discoveries in human genetics to the development of drugs and diagnostics for common diseases. deCODE is a global leader in gene discovery — our population approach and resources have enabled us to isolate key genes contributing to major public health challenges from cardiovascular disease to cancer, genes that are providing us with drug targets rooted in the basic biology of disease. Through its CLIA-certified laboratory, deCODE is offering a growing range of DNA-based tests for gauging risk and empowering prevention of common diseases, including deCODE T2™ for type 2 diabetes; deCODE AF™ for atrial fibrillation and stroke; deCODE MI™ for heart attack; and deCODE PrCa™ for prostate cancer. deCODE is delivering on the promise of the new genetics.SM Visit us on the web at www.decode.com; on our diagnostics website at www.decodediagnostics.com; and, for our pioneering personal genome analysis service, at www.decodeme.com.

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 to differ materially from those described in the forward-looking statements. These risks and uncertainties include, among others, those relating to technology and product development, integration of acquired businesses, market acceptance, government regulation and regulatory approval processes, intellectual property rights and litigation, dependence on collaborative relationships, ability to obtain financing, competitive products, industry trends and other risks identified in deCODE’s filings with the Securities and Exchange Commission. deCODE undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.