| Riðill | Braut | Rásnr. | Nafn | Félag | F.ár | SB | PB |
| 1 | 1 | 282 | Helga Guðmundsdóttir | HSK | 1988 | | 3:06,60 |
| 1 | 2 | 435 | Júlía Margrét Rúnarsdóttir | UMSE | 1988 | | 2:50,80 |
| 1 | 3 | 440 | Steinunn Adolfsdóttir | UMSE | 1988 | | |
| 1 | 4 | 234 | Arndís Ýr Hafþórsdóttir | FJÖLNIR | 1988 | | 2:39,19 |
| 1 | 5 | 228 | Svanhvít Júlíusdóttir | FH | 1988 | | 2:40,96 |
| 1 | 6 | 366 | Þóra Ágústsdóttir | ÍR | 1988 | | 2:36,45 |
| 1 | 7 | 357 | Hildur Kristín Stefánsdóttir | ÍR | 1988 | | 2:43,20 |
| 1 | 8 | 367 | Þóra Kristín Pálsdóttir | ÍR | 1988 | 2:37,77 | 2:37,02 |
| 1 | 9 | 248 | Eydís Hulda Jóhannesdóttir | HHF | 1988 | | 2:56,23 |
| 1 | 10 | 470 | Guðrún Eik Skúladóttir | USVH | 1988 | | 2:36,19 |
| 1 | 11 | 322 | Arna Benný Harðardóttir | HSÞ | 1988 | | 2:36,00 |
| 1 | 12 | 325 | Drífa Hrund Daníelsdóttir | HSÞ | 1988 | | 2:54,99 |