Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 03/2006 |  | Beitir Ólafsson | GK | |||
| 01/2006 | | Þórarinn Borgþórsson | MF |  | Huginn | Huginn |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2006 | | Hannes Halldórsson | GK |  | UMF Stjarnan | Stjarnan |
| 01/2006 | | Jón Ólafsson | DF |  | Fram Reykjavík | Fram |
| 01/2006 | | Björn Sigurbjörnsson | DF |  | Leiknir Reykjavík | Leiknir |
| 01/2006 | | Þorvaldur Árnason | FW | | UMF Stjarnan | Stjarnan |