Disclosure of shareholding and mandatory notification of trade

Mr. Ian Beveridge, a board member of FLEX LNG Ltd,

was on 23 February 2010 allotted 11,593 ordinary

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

remuneration for the second half of 2009, in addition

to 10,081 shares previously allotted for the first

half of 2009. The shares constitute a total

remuneration of USD 25,000, 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.

Mr. Ian Beveridge is a director in Bernhard Schulte

Investment Holding, and in accordance with an

agreement with Mr. Ian Beveridge the shares will be

issued to Bernhard Schulte Investment Holding. After

the issue of these shares, Bernhard Schulte

Investment Holding will have a holding of 5,648,607

shares in the Company, representing 5.00 % of the

total shares outstanding.

AI Terminal