Frontline Ltd. (NYSE:FRO, OSE:FRO) announces that Independent Tankers Corporation Limited (“Independent Tankers”) will be registered on the over-the-counter market in Oslo, Norway (the “Oslo OTC Market”) as from Friday 7 March, 2008. Independent Tankers has been assigned the ticker code “ITCL”.
March 5, 2008
Frontline Ltd.
Hamilton, Bermuda
Frontline Ltd.
Hamilton, Bermuda
Questions should be directed to:
Inger M. Klemp, Chief Financial Officer, Frontline Management AS
+47 23 11 40 00
+47 23 11 40 00
Bengt Neteland, Vice President Finance, Frontline Management AS
+47 23 11 40 00
Forward Looking Statements
This press release contains forward-looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Frontline management’s examination of historical operating trends. Although Frontline believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Frontline cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in this press release include the strength of world economies and currencies, general market conditions including fluctuations in charter hire rates and vessel values, changes in demand in the shipping market, changes in the Company’s operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the U.S. Securities and Exchange Commission.