Frontline Plc — Capital/Financing Update 2015

Apr 15, 2015

FRO - Redemption of 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 - ISIN NO 001057149.0

FRO - Redemption of 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 - ISIN NO 001057149.0

Frontline Ltd. (the "Company") announces that the Company has redeemed the

remaining outstanding of USD 93,400,000 under its 4.50 % Frontline Ltd.

Convertible Bond Issue 2010/2015 - ISIN NO 001057149.0 on maturity date April

14, 2015.

April 14, 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

FORWARD LOOKING STATEMENTS

Matters discussed in this document may constitute forward-looking statements.

The Private Securities Litigation Reform Act of 1995 provides safe harbor

protections for forward-looking statements in order to encourage companies to

provide prospective information about their business.  Forward-looking

statements include statements concerning plans, objectives, goals, strategies,

future events or performance, and underlying assumptions and other statements,

which are other than statements of historical facts.

Frontline desires to take advantage of the safe harbor provisions of the Private

Securities Litigation Reform Act of 1995 and is including this cautionary

statement in connection with this safe harbor legislation. The words "believe,"

"anticipate," "intends," "estimate," "forecast," "project," "plan," "potential,"

"will," "may," "should," "expect" "pending" and similar expressions identify

forward-looking statements.

The forward-looking statements in this document are based upon various

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

including without limitation, management's examination of historical operating

trends, data contained in Frontline's records and other data available from

third parties.  Although Frontline believes that these assumptions were

reasonable when made, because these assumptions are inherently subject to

significant uncertainties and contingencies which are difficult or impossible to

predict and are beyond Frontline's control, you cannot be assured that Frontline

will achieve or accomplish these expectations, beliefs or projections. Frontline

undertakes no duty to update any forward-looking statement to conform the

statement to actual results or changes in expectations.

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

differ materially from those discussed in the forward-looking statements

include, without limitation: the strength of world economies and currencies,

general market conditions, including fluctuations in charterhire rates and

vessel values, changes in demand in the tanker market, including but not limited

to changes in OPEC's petroleum production levels and world wide oil consumption

and storage, changes in Frontline's operating expenses, including bunker prices,

drydocking and insurance costs, the market for Frontline's vessels, availability

of financing and refinancing, ability to comply with covenants in such financing

arrangements, failure of counterparties to fully perform their contracts with

us, 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, vessel breakdowns,

instances of off-hire and other important factors.  For a more complete

discussion of these and other risks and uncertainties associated with

Frontline's business, please refer to Frontline's filings with the Securities

and Exchange Commission, including, but not limited to, its annual report on

Form 20-F.

[HUG#1911243]