Trade ticker: FLAGA Issuer: Flaga Group hf. Date of announcement: 13 May 2008 Name primary insider: Criss Sakala Insider's relation with the issuer: CFO Date of transaction: 13 May 2008 Type of financial instrument: Shares Buy or Sell: Buy Number of shares: 3,000,000 Price per share: 0.9213 Primary insider's holdings after the transaction: 9,125,000,- Primary insider's option holdings after the transaction: 0,- Related parties' holdings after the transaction: 0,- Date of settlement*: Comments*: