Frontline Ltd. Capital Adjustments


HAMILTON, Bermuda, Aug. 8, 2003 (PRIMEZONE) — One employee of Frontline (NYSE:FRO) (LSE:FRO) has exercised options to acquire a total of 2,500 shares in Frontline. All shares have been acquired at a strike price of NOK 13.76 per share. Total proceeds were NOK 34,400.

Total number of outstanding shares after this is 73,475,566.

CONTACT: Frontline 
         Ola Lorentzon
         +47 23 11 40 00