Frontline Plc — M&A Activity 2016

Jun 9, 2016

FRO - Acquisition of VLCC newbuilding contracts

FRO - Acquisition of VLCC newbuilding contracts

Frontline Ltd. (the "Company" or "Frontline")

(NYSE:FRO) is pleased to announce the acquisition of

two VLCC newbuildings under construction at Hyundai

Heavy Industries at a purchase price of $84 million

each. The vessels are due for delivery in September

and November 2016.

The Company has also secured options for two

additional sister vessels with delivery in January and

March 2017 at a purchase price of $85 million each.

Robert Hvide Macleod, Chief Executive Officer of

Frontline Management AS commented:

"We have been consistently looking for ways to

increase Frontline's exposure to the tanker market as

current resale prices do not accurately reflect the

earnings power of vessels on the water. This

acquisition will be accretive in the near term given

historically low pricing and the low cash breakeven

rates on these vessels and across our fleet. It is

also a reflection of our long term market outlook and

our focus on generating significant cash flow to

provide long term value to our shareholders."

June 9, 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," "for

ecast," "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.