Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 05/2004 |  | Magnús Magnússon | GK | |||
| 01/2004 | | Ívar Sigurjónsson | FW |  | Breiðablik | Breiðablik |
| 01/2004 | | Vignir Sverrisson | FW |  | Þróttur Reykjavík | Þróttur |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2004 | | Þorgeir Jónsson | DF |  | FH Hafnarfjörður | FH |
| 07/2003 | | Magnús Magnússon | GK |  | Víkingur Reykjavík | Víkingur |