Capital issue

Press release from Frontline Ltd. 12.10.2000

Holders of Frontline warrants have exercised 71,248 warrants. Frontline has in exchange for proceeds equal to USD 113,343 issued 7,124 shares.

At the same time 430,171 Frontline shares held for own account have been cancelled.

After this Frontline has 78,539,472 shares outstanding. Number of warrants outstanding are 25,928,287.

Hamilton, Bermuda
28 September 2000

Frontline Management AS | Phone: +47 23 11 40 00 | Fax: +47 23 11 40 40
Frontline Ltd | Phone: +1 441 295 6935 | Fax: +1 441 295 3494

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