Frontline Ltd.: Exercise of Options for Suezmax Newbuildings Contracts


HAMILTON, Bermuda, March 20, 2007 (PRIME NEWSWIRE) — As previously reported in July 2006, Frontline Ltd. (“Frontline” or the “Company”) has been granted 2 + 2 options for 156,000 dwt Suezmax newbuilding contracts at Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China. The Company has now exercised two of these options. The vessels will be delivered in April and June 2010.

Frontline will after this have 6 Suezmax and 4 VLCC newbuildings on order.

The ordering confirms Frontline’s position as a leading operator and owner of quality Suezmax tonnage in addition to its position as the world’s largest operator and owner of VLCCs.

 March 19, 2007 
 The Board of Directors 
 Frontline Ltd. 
 Hamilton, Bermuda
CONTACT:  Frontline Management AS 
          Bjoern Sjaastad, Chief Executive Officer
            +47 23 11 40 99
          Inger M. Klemp, Chief Financial Officer
            +47 23 11 40 76