Frontline Ltd.: Sale of Assets


HAMILTON, Bermuda, Jan. 8, 2007 (PRIME NEWSWIRE) — Frontline Ltd. (“Frontline” or the “Company”) has, through its affiliated company Ship Finance International Limited, sold its single hull Suezmax tanker Front Transporter for a gross sales price of $38 million. Delivery to buyers is expected to take place in May or June 2007. Upon delivery of the vessel to the buyers, the long term charter party between Frontline and Ship Finance International Limited will be terminated, and the latter will make a compensation payment to Frontline in the amount of about $15.4 million for the early termination of the charter party.

 January 5, 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