The Board of Frontline Ltd. (“Frontline” or the “Company”) has approved a grant of 760,000 share options to the Board of Directors, senior management and other employees in the Company under the terms of the existing Share Option Scheme. These options provide for recipients to subscribe for new shares in Frontline at a subscription price of NOK 243.00 per share. The options vest one third each year over three years, and the option period is set to five years. 345,000 of these options are granted to primary insiders as set out in the attached file.
February 27, 2008
The Board of Directors