Frontline Ltd.: Capital Adjustments

21.03.2001

OSLO, Norway, March 21, 2001 (PRIMEZONE) — Holders of Frontline (Nasdaq:FRONY) warrants have exercised 1,635,130 warrants. Frontline has, in exchange for proceeds equal to USD 2,601,492, issued 163,513 shares.

Total number of outstanding shares after this is 77,138,816, and total number of outstanding warrants is 24,281,764.


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