Capital issue


Holders of Frontline warrants have exercised 71,248 warrants. Frontline has in exchange for proceeds equal to USD 113,343 issued 7,124 shares.

At the same time 430,171 Frontline shares held for own account have been cancelled.

After this Frontline has 78,539,472 shares outstanding. Number of warrants outstanding are 25,928,287.

Hamilton, Bermuda

28 September 2000