Benedikt Gislason to head new Capital Markets Unit FL Group has decided upon changes to its corporate structure whereby the operations of the Proprietary Trading department will be expanded and its name changed to Capital Markets. FL Group's Capital Markets will have three main functions: oversee the company's short term trading positions in listed securities and currencies; stakebuilding/disposal on behalf of FL Group's Private Equity and Strategic Investments and advice on and execute derivative and security trading related to the company's asset portfolio, for hedging or investment purposes. Benedikt Gislason will as of May 2nd, become Managing Director of FL Group's Capital Markets. Benedikt has extensive experience in the investment field, both domestically and internationally and has in the last few years built up and managed the Proprietary Trading at Straumur-Burdaras Investment Bank. In addition, three new employees will join Benedikt in the Capital Markets team, all of them from Straumur-Burdaras. With this recruitment FL Group will lay a strong foundation for cumulating expertise in a Capital Markets unit. The company aims to further strengthen this operation in the future Albert Jonsson, who previously headed Proprietary Trading has decided to move on to new projects elsewhere. Hannes Smarason, CEO of FL Group commented: “We feel that the new employees will be of a huge value to the company. They have developed great skills in this field and know their way around the markets in which we currently operate. This will benefit the company and of course the development of our Capital Markets unit, both on the international and domestic stage. At the same time I would like to thank Albert Jonsson for his excellent work at FL Group and the role he has played in developing the company. We wish him all the best for the future.” Further information: Kristjan Kristjansson Director of Corporate Communication Tel.: + 354 591 4400