Disclosure of shareholding

Mr. Aoki Hiromichi, a board member of FLEX LNG Ltd,

has today been allotted 17,412 ordinary shares to be

issued by Flex LNG Ltd as part of his remuneration

for the first half of 2010. The shares constitute a

total remuneration of USD 12,500, based on a price

per share of NOK 4.4846 for the first 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 21 July 2010.

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 16,954,416 shares in the Company,

representing 15.00 % of the total shares outstanding.

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