Capital adjustments


One employee of Frontline has exercised options to acquire a total of 10,000 shares in Frontline. All shares have been acquired at a strike price of NOK 30.83 per share. Total proceeds were NOK 308,300.

Total number of outstanding shares after this is 76,452,566.

Ola Lorentzon, CEO Frontline Management AS, has sold 10,000 shares at a price of NOK 102.00. After this Mr. Lorentzon holds 58,000 options in the Company.

Hamilton, Bermuda

6 March 2002