Share capital increase in connection with Board remuneration

In accordance with the resolution by the shareholders

at the annual shareholders meeting of FLEX LNG Ltd

("Flex LNG" or the "Company") (ISIN: VGG359451074,

ticker FLNG) held on 19 August 2009, the Board of

Directors of FLEX LNG has today resolved to issue

88,107 new shares to the members of the Board of

Directors, as part of their remuneration for the

second half of 2009.

In addition, 76,615 new shares will be issued to the

members of the Board of Directors as part of their

remuneration for the first half of 2009, in

accordance with a resolution of the Board of

Directors made on 1 October 2009. The total number of

shares to be issued is therefore 164,722. The shares

will be issued and registered on or about 26 February

2010

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