Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 06/1999 |  | Gordon Forrest | DF |  | Livingston FC | Livingston |
| 04/1999 |  | Uni Arge | FW |  | Aarhus Fremad | Aarhus Fremad |
| 01/1999 |  | Alexandre Agulha | DF | |||
| 01/1999 |  | Hlynur Birgisson | DF |  | Örebro SK | Örebro SK |
| 01/1999 |  | Max Peltonen | DF | |||
| 01/1999 | | Sérgio Luiz | DF | |||
| 01/1999 | | Ingi Heimisson | MF | |||
| 01/1999 | | Örlygur Helgason | MF |  | Þór Akureyri | Þór |
| 01/1999 | | Alexandre Barreto | FW |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 03/1999 | | Sindri Bjarnason | DF |  | Valur Reykjavík | Valur |
| 01/1999 | | Hilmar Rúnarsson | DF |  | Þróttur Reykjavík | Þróttur |
| 01/1999 | | Andri Marteinsson | MF |  | FH Hafnarfjörður | FH |
| 01/1999 | | Kári Reynisson | MF |  | ÍA Akranes | ÍA Akranes |
| 01/1999 | | Steinar Ingimundarson | FW | | Þróttur Reykjavík | Þróttur |
| 01/1999 |  | Rastislav Lazorik | FW |  | KA Akureyri | KA |
| 12/1998 | | Baldur Bragason | MF |  | ÍB Vestmannaeyjar | ÍBV |
| 10/1998 | | Paul Kinnaird | FW |  | Stranraer FC | Stranraer FC |
| 09/1998 | | Uni Arge | FW | | Aarhus Fremad | Aarhus Fremad |
| 08/1998 |  | John Nielsen | MF |  | Viborg FF | Viborg FF |
| 07/1998 |  | Peter Ogaba | DF |  | Holstebro BK | Holstebro BK |
| 07/1998 | | Davíð Garðarsson | MF | | KA Akureyri | KA |