OSLO, Norway/HAMILTON, Bermuda, Jan. 11, 2001 (PRIMEZONE) — Frontline (Nasdaq:FRONY) has through market purchases executed Jan. 10, 2001 bought back 110,000 of the Company’s common shares. The shares have been bought back at a price of NOK 110.57.
Total number of outstanding shares after this is 77,341,511. The shares have been acquired in accordance with a Board authorization to buy back shares. Including the mentioned transaction 2,447,145 shares has been acquired within a total of 3,500,000 authorized.
CONTACT: Frontline Ltd., Oslo Tom E. Jebsen +47 23 11 40 00