Frontline Plc — Share Issue/Capital Change 2014

Dec 24, 2014

FRO - Increase in share capital

FRO - Increase in share capital

Reference is made to the announcement by Frontline Ltd. ("Frontline" or the

"Company") of the Company's entry into a debt for equity exchange agreement

December 16, 2014.

Frontline has on December 23, 2014 issued 760,377 new ordinary shares. Following

such issuance, Frontline has an issued share capital of USD 112,342,989 divided

into 112,342,989 ordinary shares. The agreement is now closed and no more shares

will be issued under this agreement.

December 23, 2014

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

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1883479]