Frontline has through market purchases executed 22 December 2000 bought back 100,000 of the Company’s common shares. The shares have been bought back at a price of NOK 118,16.
Further, holders of Frontline warrants have exercised 3,137 warrants. Frontline has in exchange for proceeds equal to USD 4,948 issued 311 shares.
Total number of outstanding shares after this is 78,066,811. The shares have been acquired in accordance with a Board authorization to buy back shares. Including the mentioned transaction 1,719,845 shares have been acquired within a total of 2,500,000 authorized.
Total number of outstanding warrants after this is 25,917,321.
Hamilton, Bermuda
22 December, 2000