Reykjavik, Iceland, 31 March 2008, FL Group (OMX: FL), has sold all of its 16.25 million shares in Finnair, corresponding to 12.69% of the company's issued share capital. The total value of the transaction amounts to ISK 13.6 billion (EUR 114 million). Jón Sigurdsson, CEO FL Group: “The divestment of our remaining stake in Finnair is consistent to the ongoing restructuring of our investment portfolio. After the sale, FL Group holds no shares in listed airline companies. We are focusing on our core investment fields in banking (Glitnir bank), insurance (TM) and property (Landic Property), along with a number of private equity investments.” Financial impact Total realised loss resulting from the sale is approximately ISK 1.7 billion (EUR 14.2 million) in 1Q 2008. 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 with core investments in banking, insurance and property. Total assets at year end 2007 amounted to ISK 422 billions, with total shareholder equity of ISK 156 billion and an equity ratio of 36.9%. FL Group's core investments include Glitnir bank, Tryggingamidstodin (TM) and Landic Property along with a number of private equity companies. For more information visit www.flgroup.is. 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.