Reykjavik, Iceland 16may 2008 - FL Group (OMX: FL), the investment company, today announces changes in its management board. An agreement has been reached between the Company and Benedikt Gislason, Managing Director of Capital Markets, that Benedikt will resign from his position at FL Group. Benedikt has been appointed Managing Director at Straumur-Burdaras Investment Bank. The Capital Markets division will from now on be overseen by FL Group's CEO. Members of FL Group´s Management Board are Jon Sigurdsson, Chief Executive Officer (CEO), Vidar Thorkelsson, Chief Financial Officer (CFO), Orvar Kaernested, Managing Director of Private Equity and Bernhard Bogason, Managing Director of Legal. For further information contact: Julius Thorfinnsson Head of Corporate Communications julius@flgroup.is ph. + 354 591 4400