OSLO, Norway/HAMILTON, Bermuda, Jan. 9, 2001 (PRIMEZONE) — Frontline (Nasdaq:FRONY) has, through market purchases executed Jan. 8, 2001, bought back 50,000 of the Company’s common shares. The shares have been bought back at a price of NOK 108.98.
Total number of outstanding shares after this is 77,451,511. The shares have been acquired in accordance with a Board authorization to buy back shares. Including the mentioned transaction 2,337,145 shares has been acquired within a total of 3,500,000 authorized.
CONTACT: Frontline Management Tom E. Jebsen, CFO +47 23 11 40 00