Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 05/2002 |  | Baldur Bragason | MF |  | ÍB Vestmannaeyjar | ÍBV |
| 01/2002 | | Ingi Ingibergsson | MF | |||
| 01/2002 | | Jón Guðbrandsson | FW |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2002 | | Halldór Björnsson |  | Árborg | Árborg |
UMF Selfoss
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 05/2002 | | Baldur Bragason | MF | | ÍB Vestmannaeyjar | ÍBV |
| 01/2002 | | Ingi Ingibergsson | MF | |||
| 01/2002 | | Jón Guðbrandsson | FW |
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2002 | | Halldór Björnsson | | Árborg | Árborg |