Frontline Ltd. (the "Company") advises that the Annual General Meeting of the Company was held on Friday, December 13, 2002 at 2:00 p.m. (Bermuda time) at Cedar House, 41 Cedar Avenue, Hamilton, Bermuda. The following resolutions were passed:
1) To re-elect John Fredriksen as a Director of the Company.
2) To re-elect Tor Olav Trøim as a Director of the Company.
3) To re-elect Shaun Morris as a Director of the Company.
4) To re-elect as a Director of the Company, Tammy Richardson, who was appointed to fill a vacancy and, being eligible, offered herself for re-election.
5) To appoint PricewaterhouseCoopers of Hamilton, Bermuda as auditors and to authorise the Directors to determine their remuneration.
In addition, the audited consolidated financial statements for Frontline Ltd for the year ended December 31, 2001 were presented to the Meeting.