FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust announced that non-independent non-executive director Mr. Tim Reid has been elected as the Chairman of the Board of Directors with effect from April 11, 2014. Mr. Simon Davidson, independent director, has been appointed as the Deputy Chairman and the Lead Independent Director with effect from the same date.

Mr. Simon Davidson is also a member of the Audit Committee. The Board of Directors of FSLTM, as trustee-manager of FSL Trust, announced the dissolution of the Investment Advisory Committee (IAC) with effect from April 11, 2014.