Flex LNG Ltd. — Director's Dealing 2011

Feb 7, 2011

FLEX LNG Ltd - notice regarding allotment of new shares

This is to inform that Mr. Aoki Hiromichi, a board

member of FLEX LNG Ltd, has today been allotted

15,642 ordinary shares to be issued by Flex LNG Ltd

as part of his remuneration for the second half of

2010. The shares constitute a total remuneration of

USD 12,500, based on a price per share of NOK 4.7690

for the second half of 2010. 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 remuneration settlement, being 10 January

Mr. Aoki Hiromichi is an Executive Officer in

Kawasaki Kisen Kaisha Ltd., and in accordance with an

agreement with Mr. Aoki Hiromichi the shares will be

issued to Kawasaki Kisen Kaisha Ltd. After the issue

of these shares, Kawasaki Kisen Kaisha Ltd. will have

a holding of 16,973,058 shares in the Company,

representing 15.00 % of the total shares outstanding.