Frontline Ltd.: Capital Adjustments

04.03.2002

OSLO, Norway, March 4, 2002 (PRIMEZONE) — Two employees of Frontline Ltd. (NYSE:FRO) have exercised options to acquire a total of 15,000 shares in Frontline. All shares have been acquired at a strike price of NOK 30.83 per share. Total proceeds were NOK 462,450.

Total number of outstanding shares after this is 76,422,566.


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