FRO - Increase in share capital

Reference is made to the announcement by Frontline Ltd. ("Frontline" or the "Company") of the Company's entry into an at the market equity distribution agreement on June 6, 2013, which was amended and restated on January 21, 2014 and on January 28, 2015.

Frontline has issued 10,009,703 ordinary shares pursuant to the equity distribution agreement during the month of January 2015. Following such issuance, Frontline has an issued share capital of USD 122,352,692 divided into 122,352,692 ordinary shares.

January 31, 2015
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

Questions should be directed to:

Robert Hvide Macleod: Chief Executive Officer, Frontline Management AS
+47 23 11 40 00

Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 00