Correction: Further information about the buyers. Reykjavik, Iceland, 4 February 2008, FL Group (OMX: FL), the international investment company, announces that it has divested its 43.1% share in Geysir Green Energy to a newly founded investment fund, Glacier Renewable Energy Fund, VGK Invest and Renewable Energy Resources. The total value of the transaction amounts to ISK 10.5 billion which represents FL Group's book value of Geysir Green Energy in the end of 2007 and therefore has negligble effect on the company's results in 1Q 2008. As a consideration for the shares in Geysir, FL Group receives cash, liquid shares and a holding in Glacier Renewable Energy. Glacier Renewable Energy is a “green” investmentfund, run by Glitnir Sjóðir hf., and its goal is to invest in projects related to self-sufficient energy projects. FL Group‘s holding in Glacier Renewable Energy amounts to around ISK 4.5 billion. Geysir Green Energy is an investment fund which seeks leading market opportunities in the harnessing of geothermal energy. The company invests in the development and construction of geothermal plants, acquires geothermal plants currently owned by power utilities and participates in the privatization of energy companies all over the world. Jón Sigurdsson, CEO FL Group: “The divestment of our stake in Geysir Green Energy is consistent to the restructuring of our non-core investment portfolio. FL Group has played a leading role in the growth of Geysir Green Energy since the company's establishment in 2007 and in this time, Geysir has achieved tremendous success and generated good return on investment for FL Group. Geysir Green Energy's future is bright, and we are convinced that Glitnir bank and Atorka Group will be able to utilize their extensive knowledge in the field of self-sufficient energy to continue to grow the company. Through FL Group's 32% shareholding in Glitnir bank, the company will have direct benefit from Geysir Green Energy operations.” For further information: FL Group Julius Thorfinnsson Corporate Communications Tel: (+354) 591 4400 / 896 6612 E-mail: julius@flgroup.is Website: www.flgroup.is About FL Group FL Group is an international investment company focusing on three areas of investment, Financial and Insurance (FIG), Private Equity and Capital Markets. FIG is a special investment function responsible for strategic investments in banking, insurance and other financials. Private Equity oversees FL Group‘s private equity holdings in addition to some listed positions that fit specific investment criteria. The company's Capital Markets function oversees investments in listed securities as well as derivatives and other alternative trading for hedging or investment purposes. With head office in Reykjavik and an office in London, FL Group invests in companies worldwide. The Company is listed on the OMX Nordic Exchange in Reykjavik, Iceland (OMX: FL), with over 4,000 shareholders. More information on www.flgroup.is