OSLO, Norway, May 10, 2001 (PRIMEZONE) — Frontline (Nasdaq:FRONY) has, through market purchases executed May 9, 2001, bought back 100,000 of the Company’s common shares. The shares have been bought back at a price of NOK 181.03.
Total number of outstanding shares after this is 76,828,801. The shares have been acquired in accordance with a Board authorization to buy back shares. Including the mentioned transaction, 3,207,145 shares have been acquired within a total of 7,500,000 authorized.
CONTACT: Frontline Ltd., Oslo, Norway
Kate Blankenship
+1 441 295 6935
Tom E. Jebsen, CFO
+47 23 11 40 00