Frontline Plc — Capital/Financing Update 2016

Jun 13, 2016

FRO - Sale of six medium range tankers

FRO - Sale of six medium range tankers

Frontline Ltd. (the "Company" or "Frontline") (NYSE:FRO - OSE:FRO) today

announced that it has entered into an agreement whereby the Company will sell

its six medium range tankers for an aggregate sale price of $172.5 million to an

unaffiliated third party. The vessels will be delivered by Frontline during

September and October 2016.

Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS

commented:

"We are pleased to have completed this transaction, which leaves Frontline with

a focused crude oil tanker fleet comprised of VLCCs, Suezmax tankers and LR2

tankers. Our primary exposure and growth focus is towards the crude tanker

market, and our LR2 tankers can be deployed in both the crude oil and refined

product trades, leaving us with attractive optionality."

Following this transaction, Frontline's fleet, including newbuildings, consists

of 79 vessels with an aggregate capacity of approximately 15.3 million dwt.  The

Company's fleet, including newbuildings, is comprised

of 30 VLCCs, 22 Suezmax tankers, 24 LR2/Aframax product tankers and three MR

tankers chartered in on short term contracts.

June 13, 2016

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 84

Inger M. Klemp: Chief Financial Officer, Frontline Management AS

+47 23 11 40 76

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements. 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. Words, such as, but not limited to "believe," "anticipate," "intends,"

"estimate," "forecast," "project," "plan," "potential," "may," "should,"

"expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various

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

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

the control of Frontline, Frontline cannot assure you that they will achieve or

accomplish these expectations, beliefs or projections. The information set forth

herein speaks only as of the date hereof, and Frontline disclaims any intention

or obligation to update any forward-looking statements as a result of

developments occurring after the date of this communication.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2020138]