Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 07/1997 |  | Siggi Jónsson | MF |  | FH Hafnarfjörður | FH |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1998 | | Sævar Þór Gíslason | FW |  | ÍR Reykjavík | ÍR |
| 01/1998 | | Davíð Gunnarsson | FW |  | Leiknir Reykjavík | Leiknir |
UMF Selfoss
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 07/1997 | | Siggi Jónsson | MF | | FH Hafnarfjörður | FH |
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1998 | | Sævar Þór Gíslason | FW | | ÍR Reykjavík | ÍR |
| 01/1998 | | Davíð Gunnarsson | FW | | Leiknir Reykjavík | Leiknir |