The following proposals submitted at the Shareholders Meeting of FL Group on Friday, 9 May, 2008 were approved by shareholders representing 84.06% of the total share capital. 1.Proposal to the Shareholders Meeting to resolve that the Board shall request that the Company's shares will be delisted from OMX Nordic Exchange, Iceland. The proposal was approved by 99.86% of total votes cast. 2.Proposal to authorize the Board to purchase shares in FL Group from shareholders that so request. The shares will be paid for with shares in Glitnir Bank hf. The offer shall be valid until 21 May 2008. The rate set for exchange of FL Group shares into Glitnir shares is based on FL Group share price of 6.68 and Glitnir Bank share price of 17.05. Any shareholder that accepts the offer will thus receive 0.39 shares in Glitnir Bank for each share in FL Group hf. The proposal was approved. 3.Proposal to authorize the Board, in relation to cf. 2 here above, to purchase up to 20% of FL Group's own shares for the nominal value of ISK 6.68 per share. This authority is granted until June 20, 2008. If FL Group acquires over 10% of the share capital the Board of Directors shall reduce the share capital in accordance with the Company Act, so that total shares held by FL Group in the Company amounts to no more than 10% of the share capital. The proposal was approved. 4.Proposal to authorize the Board, in relation to the purchase of own shares cf. 3 here above, to purchase up to 862,017,533 shares in Glitnir Bank for ISK 17.05 per share. The share purchase will be financed by available borrowings. The proposal was approved. For further information please contact: Julius Thorfinnsson, Head of Corporate Communications tel. +354 591 4400 julius@flgroup.is