| Riðill | Braut | Rásnr. | Nafn | Félag | F.ár | SB | PB |
| 1 | 1 | 347 | Vilhjálmur Ragnar Kristjánsson | HSÞ | 1988 | | 2:27,55 |
| 1 | 2 | 380 | Vilhjálmur Atlason | ÍR | 1988 | 2:06,74 | 2:06,74 |
| 1 | 3 | 217 | Steinar Þór Bachmann | BBLIK | 1988 | 2:27,11 | 2:23,00 |
| 1 | 4 | 246 | Þórður Ingason | FJÖLNIR | 1988 | | 2:30,94 |
| 1 | 5 | 218 | Sölvi Guðmundsson | BBLIK | 1988 | 2:20,49 | 2:20,49 |
| 1 | 6 | 302 | Jón Örn Árnason | HSK | 1988 | | 2:34,50 |
| 1 | 7 | 215 | Kári Logason | BBLIK | 1988 | 2:16,05 | 2:16,05 |
| 1 | 8 | 264 | Hilmar Sigurjónsson | HSH | 1988 | | 2:31,88 |
| 1 | 9 | 384 | Kristján Ingi Arnarsson | UDN | 1988 | | |
| 1 | 10 | 216 | Sigurjón Þórðarson | BBLIK | 1988 | 2:25,20 | 2:24,00 |
| 1 | 11 | 296 | Einar Vignir Baldursson | HSK | 1988 | | |
| 1 | 12 | 293 | Birkir Fannar Bragason | HSK | 1988 | | 2:40,08 |
| 1 | 13 | 444 | Guðmundur Ingi Halldórsson | UMSE | 1988 | | |
| 1 | 14 | 409 | Guðmundur Helgi Stefánsson | UÍA | 1988 | | 2:43,06 |