Frontline Plc — Share Issue/Capital Change 2014

Dec 19, 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 18, 2014 issued 3,984,375 new ordinary shares.

Following such issuance, Frontline has an issued share capital of USD

111,582,612 divided into 111,582,612 ordinary shares.

December 18, 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#1881952]