Ófs fekk orðstír hæfan
auðar mildr, sem vildi,
gráns fyr gjöfli sína
grafþveings boði veingis.
Átti vin, því að veitti
vell …dr ímu svellir,
hann und hverjum runni
Hamdis bríkr af slíku.
Boði veingis gráns grafþveings, mildr auðar, fekk hæfan orðstír, sem vildi, fyr sína ófs gjöfli. Hann átti vin und hverjum runni Hamdis bríkr af slíku, því að …dr svellir ímu veitti vell.
The offerer of the land of the grey grave-thong [SNAKE > GOLD > GENEROUS MAN], generous with wealth, secured a fitting reputation, as he wanted, for his excessive munificence. He had a friend in every bush of Hamðir’s <hero> board [SHIELD > MAN] on account of such [generosity], because the … sweller of battle [WARRIOR] gave out gold.