Halldor Kristmannsson has been appointed Managing Director of Corporate Communications and Investor Relations. Kristmannsson will be responsible for investor relations, media relations, corporate branding and internal communications. He will join FL Group‘s Management Board and oversee several specific projects with the CEO and his deputy. Kristmannsson has been Vice President of Corporate Communications and IR of Actavis, the international generic pharmaceuticals company for the last six years. As a senior member of the Groups Executive Team, he was responsible for the internal and external communication function and the Group's corporate branding. Kristmannsson participated in the development of the Group's M&A strategy and worked alongside senior members of the board to oversee the integration of acquired companies. He was also involved in a number of other strategic projects and was the Compliance Officer for five years. Commenting, Hannes Smárason, CEO of FL Group said: "I am delighted to welcome Halldor to FL Group. His extensive experience covers the full spectrum of communications, from investor and media relations to M&A and corporate branding. His expertise will be invaluable as we seek to further improve our communication with both the domestic and international financial community and raise the profile of the business around the world." For further information contact: Halldor Kristmannsson Managing Director of Corporate communications and IR Tel: (+354) 669 4476 E-mail: halldor@flgroup.is About FL Group FL Group is an international investment company focusing on two areas of investment. The majority of its operations are run through the Private Equity and Strategic Investment division which can take stakes in listed and private companies as well as lead private equity buy-outs. The Capital Markets division is a proprietary trading desk focused on taking short-term positions for profits in primarily equities, bonds and currencies. With head office in Reykjavik and offices in London and Copenhagen, FL Group invests in companies worldwide, with a special focus on Europe. FL Group is listed on the OMX Nordic Exchange in Reykjavik (OMX: FL). At the end of the second quarter 2007, FL Group's total assets amounted to ISK 319.6 billion (EUR 3.8 billion). Its market capitalisation at the end of June 2007 was ISK 234.4 billion (EUR 2.8 billion). The largest shareholders of FL Group are Oddaflug BV (20.8%), owned by Hannes Smárason, CEO; Gnúpur fjárfestingafélag hf. (20.5%), Baugur Group (19.6%) , Materia Invest and related parties (11.9%). The shareholding can in some cases be in the name of Icelandic financial institutions because of forward contracts. More information on www.flgroup.is