Fontline Ltd.: Capital Adjustments

13.07.2001

NORWAY, July 13, 2001 (PRIMEZONE) — Frontline (Nasdaq:FRONY) has, through market purchases executed July 13, 2001, bought back 75,000 of the Company’s common shares. The shares have been bought back at a price of NOK 170.00.

Total number of outstanding shares after this is 76,652,566. The shares acquired are done so in accordance with a Board authorization to buy back shares. Including the mentioned transaction, 3,667,145 shares have been acquired out of a total of 7,500,000 authorized.


CONTACT: Frontline Ltd.
         Kate Blankenship, +1 441 295 6935
         Tom E. Jebsen, +47 23 11 40 00