Frontline Plc — Capital/Financing Update 2010

Apr 19, 2010

FRO - Acquisition of two VLCCs

Frontline Ltd. (the "Company" or "Frontline") (NYSE: FRO, OSE: FRO) is pleased

to announce the acquisition of two double hull VLCC tankers; Callisto Glory and

Andromeda Glory from an unrelated 3(rd) party. The two 321,300 dwt vessels are

built by Daewoo Shipbuilding & Marine Engineering Co., Ltd. in South Korea in

2009 and are of high specification. The vessels are expected to be delivered in

the period May to June 2010.

The acquisition will contribute to further consolidation of the VLCC market and

confirms Frontline's position as the world's largest independent operator and

owner of double hull VLCC tonnage.

Frontline's commitment to acquire the two double hull VLCC tankers confirms the

Board's firm belief in the future prospects in the tanker market.

April 19, 2010

The Board of Directors

Frontline Ltd.

Hamilton, Bermuda

Questions should be directed to:

Jens Martin Jensen: 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

Forward Looking Statements

This press release contains forward looking statements. These statements are

based upon various assumptions, many of which are based, in turn, upon further

assumptions, including Frontline management's examination of historical

operating trends. Although Frontline believes that these assumptions were

reasonable when made, because assumptions are inherently subject to significant

uncertainties and contingencies which are difficult or impossible to predict and

are beyond its control, Frontline cannot give assurance that it will achieve or

accomplish these expectations, beliefs or intentions.

Important factors that, in the Company's view, could cause actual results to

differ materially from those discussed in this press release include the

strength of world economies and currencies, general market conditions including

fluctuations in charter hire rates and vessel values, changes in demand in the

tanker market as a result of changes in OPEC's petroleum production levels and

world wide oil consumption and storage, changes in the Company's operating

expenses including bunker prices, dry-docking and insurance costs, changes in

governmental rules and regulations or actions taken by regulatory authorities,

potential liability from pending or future litigation, general domestic and

international political conditions, potential disruption of shipping routes due

to accidents or political events, and other important factors described from

time to time in the reports filed by the Company with the United States

Securities and Exchange Commission.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1405261]