Frontline Ltd.: Exercise of Options for Suezmax Newbuildings Contracts


HAMILTON, Bermuda, April 17, 2007 (PRIME NEWSWIRE) — Frontline Ltd. (“Frontline” or the “Company”) has exercised the remaining two options for 156,000 dwt Suezmax newbuilding contracts at Jiangsu Rongsheng Heavy Industries Group Co. Ltd. in China. These vessels will be delivered in October and December 2010, respectively.

Following this, Frontline has eight Suezmax and four VLCC newbuildings on order.

The ordering of the tonnage has been done as a combination of a wish to renew the fleet, replacing the single hull Suezmax vessels recently sold and an opportunistic investment approach. It 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.

 April 16, 2007 
 The Board of Directors 
 Frontline Ltd. 
 Hamilton, Bermuda

Questions should be directed to:

 Bjoern Sjaastad, Chief Executive Officer
 Frontline Management AS 
 +47 23 11 40 99

 Inger M. Klemp, Chief Financial Officer
 Frontline Management AS 
 +47 23 11 40 76