FL GROUP hf. - Company Announcement

FL Group will not be making an offer for Inspired Gaming Group

Reykjavik, Iceland, 19 December, 2007, FL Group (OMX: FL), the international
investment company, today announced that further to its statement on 7
September 2007, the Company confirms that in light of current financial market
conditions, it will not be making an offer for Inspired Gaming*. FL Group
continues to be impressed by the Inspired Gaming business and management team
and remains a supportive shareholder. 
 
*Under Rule 2.8 of the City Code on Takeovers and Mergers, this announcement
will prevent FL Group for a period of six months from today from, inter alia,
announcing an offer or possible offer for Inspired Gaming unless there is a
material change of circumstances or there has occurred an event which has been
specified in this announcement as an event which would enable the statement in
the asterisked paragraph above to be set aside. FL Group accordingly reserves
its rights under Rule 2.8 of the Code to announce an offer or possible offer
for Inspired Gaming and/or to take any other action otherwise precluded under
Rule 2.8 of the Code within six months of the date of this announcement in the
event that: 

(i) the board of directors of Inspired Gaming agrees to the making of such an
announcement or the taking of such action; or 

(ii) a third party announces an offer or a possible offer for Inspired Gaming;
or 

(iii) Inspired Gaming or a third party announces a whitewash proposal (as
described in Note 1 of the Notes on Dispensations from Rule 9 in the Code) or a
reverse takeover 
(as described in Note 2 to Rule 3.2 of the Code) in respect of Inspired Gaming;
or 

(iv) Inspired Gaming undertakes or announces an intention to undertake any
acquisition, disposal, merger, joint venture or scheme of arrangement involving
a material amount (where material is defined in Note 2 to Rule 21.1 of the
Code). 


Further information:

FL Group
Halldor Kristmannsson
Managing Director of Corporate Communications and IR 	
Tel:  (+354) 591 4400
E-mail: halldor@flgroup.is

Brunswick Group LLP				
London: Anita Scott / Elena Shalneva/ Leonora Pou - Tel. +44 (0)20 7404 5959
 			 
About FL Group 

FL Group is an international investment company focusing on three areas of
investment, Financial and Insurance (FIG), Private Equity and Capital Markets. 
FIG is a special investment function responsible for strategic investments in
banking, insurance and other financials.  Private Equity oversees FL Group‘s
private equity holdings in addition to some listed positions that fit specific
investment criteria.  The company's Capital Markets function oversees
investments in listed securities as well as derivatives and other alternative
trading for hedging or investment purposes. 

With head office in Reykjavik and an office in London, FL Group invests in
companies worldwide.  The Company is listed on the OMX Nordic Exchange in
Reykjavik, Iceland (OMX: FL), with over 4,000 shareholders. 

More information on www.flgroup.is