OSLO, Norway, May 3, 2001 (PRIMEZONE) — Holders of Frontline (Nasdaq:FRONY) warrants have exercised 18,747 warrants. Frontline has, in exchange for proceeds equal to USD 29,704, issued 1,867 shares.
Frontline has acquired 1,248,061 warrants at a price of NOK 3.57 per warrant.
Total number of outstanding shares after this is 76,928,801, and total number of outstanding warrants is 21,846,210.
CONTACT: Frontline Ltd., Oslo, Norway
Tom E. Jebsen, CFO
+47 23 11 40 00