Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 05/2003 |  | Andri Birgisson | MF |  | Fylkir Reykjavík | Fylkir |
| 05/2003 | | Henning Jónasson | MF |  | KR Reykjavík | KR |
| 01/2003 | | Einar Hjörleifsson | GK | |||
| 01/2003 | | Sturla Guðlaugsson | MF |  | ÍA Akranes | ÍA Akranes |
| 01/2003 | | Jón Hauksson | MF | | ÍA Akranes | ÍA Akranes |
| 01/2003 | | Halldór Sigurðsson | MF | | ÍA Akranes | ÍA Akranes |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2003 | | Freyr Alexandersson | DF |  | ÍR Reykjavík | ÍR |
| 01/2003 | | Baldvin Hallgrímsson | DF |  | Valur Reykjavík | Valur |