Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 |  | Hilmar Sighvatsson | DF |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 | | Sumarliði Árnason | FW |  | ÍB Vestmannaeyjar | ÍBV |
UMF Afturelding
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 | | Hilmar Sighvatsson | DF |
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/1994 | | Sumarliði Árnason | FW | | ÍB Vestmannaeyjar | ÍBV |