Frontline: Capital Adjustments/Mandatory Notification

03.04.2001

OSLO, Norway, April 3, 2001 (PRIMEZONE) — Holders of Frontline (Nasdaq:FRONY) warrants have exercised 18,816 warrants. Frontline has, in exchange for proceeds equal to USD 29,936, issued 1,829 shares.

Frontline has acquired 66,000 warrants at a price of NOK 1.662 per warrant.

Total number of outstanding shares after this is 76,920,695, and total number of outstanding warrants is 24,196,948.


CONTACT:  Frontline, Oslo
          Tom E. Jebsen, CFO
          +47 23 11 40 00