Frontline Plc — M&A Activity 2011

Jan 3, 2011

FRO - Sale and time charter back of VLCC

Frontline Ltd. ("Frontline") has agreed to sell its 2006-built VLCC Front

Shanghai. The net sale proceeds are $91.24 million. Frontline has in connection

with the sale agreed to charter back the ship from the new owner. The duration

of the time charter is about two years at a rate of $35,000 per day. Delivery to

the new owners and commencement of the time charter is expected to take place

concurrently in the second half of January.

January 3, 2011

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

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

(Norwegian Securities Trading Act)

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.

[HUG#1476681]