Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2005 |  | Hannes Halldórsson | GK |  | Leiknir Reykjavík | Leiknir |
| 01/2005 | | Jón Ólafsson | DF |  | Fram Reykjavík | Fram |
| 01/2005 | | Þorvaldur Árnason | FW |  | Hvíti riddarinn | Hvíti riddarinn |
| 07/2004 | | Björn Sigurbjörnsson | DF |  | Þróttur Reykjavík | Þróttur |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2005 | | Einar Hjörleifsson | GK |  | Víkingur Ólafsvík | Víkingur Ólafsvík |
| 01/2005 | | Þórarinn Borgþórsson | MF |  | Huginn | Huginn |
| 01/2005 | | Einar Guðnason | MF |  | Víkingur Reykjavík | Víkingur |