Reykjavik, Iceland 21 May 2008: With refferral to a Statement from OMX Nordic Exchange, Iceland, in relation to FL Group‘s disclosure of information, FL Group hereby states the following: FL Group disagrees with the Statement from OMX in relation to both incidents and is of the opinion that OMX decision is based on a misunderstanding and weak arguments. In relation to the disclosure of the sale of the AMR shares a decision was taken to disclose on New York Stock Exchange and OMX at the same time. In relation to sale of shares in Commerzbank the sale was concluded in many small transactions in a period of several weeks. The sale was disclosed in compliance with law and regulations. FL Group is of the opinion that its disclosure in both incidents was perfectly sensible and in line with law and regulations and in line with the interest of its sharesholders. FL Group is of the opinion that OMX has no authority to issue a „public reprimand“. OMX has the authority to issue a statement in relation to a certain matter and publish such a statement but has no authority to issue a „public reprimand“. Nowhere in OMX regulations or agreements about admission to trading of shares, is OMX granted the authority to issue a public reprimand. For more information please contact: Julius Thorfinnsson Head of Corporate Communications Tel: +354 591 4400 julius@flgroup.is About FL Group: FL Group is an international investment company with core investments in banking, insurance and property, along with a number of private equity investments. FL Group's core investments include Glitnir bank (32% stake), Tryggingamidstodin (99% stake) and Landic Property (39.8% stake. The Company's headquarters are in Reykjavik and it also has an office in London. For more information visit www.flgroup.is.