Frontline: Capital adjustments


HAMILTON, Bermuda, August 18, 2003 (PRIMEZONE) — One employee of Frontline (NYSE:FRO) has exercised options to acquire a total of 1,667 shares in Frontline. All shares have been acquired at a strike price of USD 9.70 per share. Total proceeds were USD 16,169.90.

Total number of outstanding shares after this is 73,504,899.

 Contact persons:
 Ola Lorentzon
 +47 23 11 40 00