FL Group has sold all its shares in the Danish high end audio manufacturer Bang & Olufsen A/S (B&O), corresponding to 10.76% of the company's issued share capital. The buyers represent a number of Danish and international institutional investors. The proceeds from the sale amount to approximately ISK 10.2 billion (EUR 121 million). FL Group has been a shareholder in B&O since January 2006. The sale of the B&O shares is a logical step in FL Group's strategy and following it a reallocation of funds is possible given the number of attractive investment opportunities available to FL Group. Lately the company's investment activities include the European financial sector, notably an investment of 2.99% of shares in the German Commerzbank AG, investments in the leisure industry in the UK and the continued support of Refresco's buy and build strategy, which has resulted in four acquisitions in recent weeks. Furthermore FL Group has taken a significant step into the real estate market, by forming an alliance with Bayrock Group LLC, a US based real estate company. Together the companies are already exploring a few major development projects around the world. Hannes Smarason, CEO of FL Group commented on the sale: “FL Group's investment strategy is charcaterized by flexiblility and the urge to constantly explore value enhancing opportunities. Being a shareholder in a worldwide leading company in its field like B&O has been a valuable experience for FL Group and we wish B&O all the best for the future. However, we now feel that in the interest of our shareholders, it's the right time to move on.” Further information: FL Group Kristján Kristjánsson Director Corporate Communications Tel: +354 591 4427