FL GROUP hf. - Total number of voting rights and capital

- Share capital increase

At the meeting of the Board of Directors of FL Group hf. on December 14, 2007
the Board of Directors decided to issue 680,272,109 new shares, at nominal
value 1 ISK each at the rate of 14.7 to sell to institutional investors in
relation to private placement of shares, which was completed on December 14,
2007. The increase was decided in line with the authorization in Item b of
Article 4, the Articles of Association. The authorization in item b was
approved at a Shareholders Meeting of the Company at September 25, 2007. The
total nominal value of shares in FL Group is ISK 9,925,000,682 after the
increase. 

Further information:
Halldor Kristmannsson
Managing Director of Corporate Communications & IR
Tel: (+354) 591 4400