FL Group implements new share option plan

FL Group implemented a new share option plan in relation to options granted to employees at the end of last month. The new plan consists of up to 361 million shares at nominal value ISK 1 each.

At the same time options for 136 million shares have been terminated. The options granted under the plan are exercisable in a three years period on 1 March each year from 2009 until 2011, and 1/3 of the options can be executed annually.

On the basis of the new plan options to 342 million shares have been granted to employees at the rate 14.7. The options have i.e. been granted to the following employees:

Jón Sigurðsson, CEO, 150 million shares. Already Jon has options to buy 51.5 million shares granted by the company. Neither Jon nor any financially related party owns shares in FL.

Benedikt Gíslason, managing director, 35 million shares. Previously, Benedikt had no options to buy shares in FL granted by the company. Neither Benedikt Gíslason nor any financially related party owns shares in FL.

Örvar Kærnested, managing director, 80 million shares. Previously, Örvar had no options to buy shares in FL granted by the company. Örvar Kærnested holds no shares in FL but parties financially related to him hold 5,000 shares in FL.

As of from today FL has in total granted employees options to 501 million shares at the weighted average price of 15.29.