HAMILTON, Bermuda, March 21, 2001 (PRIMEZONE) — Frontline (Nasdaq:FRONY) has, through market purchases executed March 21, 2001, bought back 220,000 of the Company’s common shares. The shares have been bought back at a price of NOK 155.54.
Total number of outstanding shares after this is 76,918,816. The shares have been acquired in accordance with a Board authorization to buy back shares. Including the mentioned transaction 3,107,145 shares has been acquired within a total of 5,000,000 authorized.
CONTACT: Frontline Ltd Tom E. Jebsen, + 011 47 23 11 40 00