Flex LNG Ltd. — Director's Dealing 2010

Feb 24, 2010

FLEX LNG Ltd - notice regarding allotment of new shares

This is to inform that Capt. James MacHardy, the

Interim Chairman of the Board of Directors of FLEX

LNG Ltd, has today been allotted 18,549 ordinary

shares to be issued by FLEX LNG Ltd as part of his

remuneration for the second half of 2009, in addition

to 16,129 shares previously allotted for the first

half of 2009. The shares constitute a total

remuneration of USD 40,000, based on a price per

share of NOK 7.54 for the first half of 2009 and NOK

6.14 for the second half of 2009. The price per share

is calculated on the basis of the volume weighted

average trading price of the Company's shares over a

period of ten consecutive trading days ending on the

day of the settlement, being 19 August 2009 and 5

January 2010.

After the issue of these shares, Capt. James MacHardy

will have a holding of 34,678 shares in the Company,

representing 0.03 % of the total shares outstanding.