FL Group has from today, been approved as a qualified holder in Glitnir Bank hf. by the Financial Supervisory Authority, Iceland with refrence to the Act on Financial Undertakings. FL Group now holds a 30.4% share in Glitnir Bank and is the banks largest shareholder. Further information Hannes Smárason CEO FL Group Tel. +354 5914400 Kristján Kristjánsson Director Corp. Communications Tel. +354 5914427 About FL Group FL Group is an investment company, focusing on strategic and private equity investments as well as proprietary trading, with a particular emphasis on active participation in markets with listed securities. The Company focuses on influential investments in companies in Northern Europe on a broad basis. At the end of September 2006 FL Group's total assets amounted to ISK 239.5 billion. FL Group is listed on the Icelandic Stock Exchange (ICEX: FL). The largest shareholders of FL Group are Oddaflug (19.8%), owned by Hannes Smárason, CEO; Baugur Group (18.1%), Gnúpur fjárfestingafélag hf. (17.2%); Icon and Materia Invest (10.7%). The shareholding can in some cases be in the name of Icelandic financial institutions because of forward contracts. www.flgroup.is.