First Ship Lease Trust announced cessation of Phang Thim Fatt as Independent Director of the Board of Directors and Chairman of the Audit Committee on June 30, 2013. Mr. Phang served as Independent Director of the Trustee-Manager of FSL Trust, FSL Trust Management Pte. Ltd. Mr. Phang also served as the Chairman of the Audit Committee of FSL Trust Management Pte.

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