Frontline Ltd. (the “Company”) advises that the 2008 Annual General Meeting of the Company was held on September 19, 2008 at 10:00 a.m. at the Fairmont Hamilton Princess, 76 Pitts Bay Road, Hamilton, Bermuda. The following resolutions were passed:
1) To re-elect John Fredriksen as a Director of the Company.
2) To re-elect Kate Blankenship as a Director of the Company.
3) To re-elect Frixos Savvides as a Director of the Company.
4) To re-elect Kathrine Fredriksen as a Director of the Company.
5) To appoint PricewaterhouseCoopers AS of Oslo, Norway as auditors and to authorise the Directors to determine their remuneration.
6) That the remuneration payable to the Company’s Board of Directors of a total amount of fees not to exceed US$300,000.00 be approved for the year ended December 31, 2008.
7) That the Company’s Board of Directors be and is hereby authorized to sub-divide the Company’s authorized share capital of 125,000,000 Ordinary Shares of par value 2.50 each into an authorized share capital of 625,000,000 Ordinary Shares of par value $0.50 each.
In addition, the audited consolidated financial statements for Frontline Ltd for the year ended December 31, 2007 were presented to the Meeting.
September 19, 2008