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

Share Capital increase

The Board of Directors of FL Group hf. decided on December 20, 2007, to
increase the share capital in nominal amount of ISK 3,659,265,291 at the price
14.7, in accordance with Item d, Paragraph 2,  Article 4 of the Articles of
Association, which was approved at a Shareholders Meeting of the Company at
December 14, 2007. The new shares will be used to finance the purchase of a
Property Portfolio from Baugur Group hf. and affiliates and will be delivered
to Baugur Group hf. The total nominal value of shares in FL Group is ISK
13,584,265,973 after the increase. 

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

Attachments:

Tilinpaatostiedote2007