| Rank | Name | Time | |
|---|---|---|---|
| 1 | Ingvar Hjartarson | 4:41 /km | 4:58 |
| 1 | Örvar Steingrímsson | 4:41 /km | 4:58 |
| 3 | Daniel Reynisson | 4:42 /km | 4:59 |
| 4 | Thorbergur Jónsson | 4:48 /km | 5:06 |
| 4 | Þorsteinn Roy Jóhannsson | 4:48 /km | 5:06 |
| 6 | Jason Wright | 4:59 /km | 5:17 |
| 6 | Sigurjón Sturluson | 4:59 /km | 5:17 |
| 8 | Birgir V | 5:01 /km | 5:20 |
| 9 | Guðmundur Steingrímsson | 5:04 /km | 5:23 |
| 10 | Kristján Svanur Eymundsson | 5:05 /km | 5:24 |
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