GM Throstur Thorhallsson had to withdraw from the tournament before the drawing of lots. He was replaced by FM David Kjartansson.
Players list
- GM Hannes Hlífar Stefánsson (2566)
- GM Héðinn Steingrímsson (2562)
- IM Guðmundur Kjartansson (2437)
- IM Björn Þorfinnsson (2407)
- FM Davíð Kjartansson (2389)
- FM Guðmundur Gíslason (2336)
- FM Vignir Vatnar Stefánsson (2334)
- FM Dagur Ragnarsson (2320)
- FM Sigurbjörn Björnsson (2268)
- Bárður Örn Birkisson (2162)
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Round 1 results
| Bo. | No. | Rtg | Name | Result | Name | Rtg | No. | ||
| 1 | 1 | 2562 | GM | Steingrimsson Hedinn | 1 – 0 | IM | Thorfinnsson Bjorn | 2407 | 10 |
| 2 | 2 | 2162 | Birkisson Bardur Orn | ½ – ½ | IM | Kjartansson Gudmundur | 2437 | 9 | |
| 3 | 3 | 2334 | FM | Stefansson Vignir Vatnar | ½ – ½ | FM | Bjornsson Sigurbjorn | 2268 | 8 |
| 4 | 4 | 2389 | FM | Kjartansson David | ½ – ½ | FM | Gislason Gudmundur | 2336 | 7 |
| 5 | 5 | 2320 | FM | Ragnarsson Dagur | ½ – ½ | GM | Stefansson Hannes | 2566 | 6 |
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