The cache is near a hill called Vatnshóll (means Waterhill). It is near a bus stop for bus 11. Vatnshóll is near a street called Háteigsvegur. I recommend that you walk up the hill and see the beautyful view. The cache is a blue hammerplast box. The original items are: Logbook, pen, 2 necklace's, Ubuntu 7.04 CD, golfball, Dracco man and a bracelet.
Please dont put a food in it !