We refer to the press release issued by Frontline Ltd. on February 20, 2008 regarding Independent Tankers Corporation Limited (“ITC”).
For shares listed on Oslo Stock Exchange and London Stock Exchange the ex-dividend date for the Frontline shares will be today, February 26, 2008.
For shares listed on the New York Stock Exchange the ex-dividend date will be set as soon as the Cash Price, as defined in the February 20, 2008 press release, has been determined and announced.
February 26, 2008
The Board of Directors
Forward Looking Statements
This press release contains forward-looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Frontline management’s examination of historical operating trends. Although Frontline believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Frontline cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in this press release include the strength of world economies and currencies, general market conditions including fluctuations in charter hire rates and vessel values, changes in demand in the shipping market, changes in the Company’s operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the U.S. Securities and Exchange Commission.