Frontline Plc — Share Issue/Capital Change 2016

Jan 29, 2016

FRO - Results from Special General Meeting

FRO - Results from Special General Meeting

Hamilton, Bermuda, January 29, 2016

Frontline Ltd. (the "Company"), advises that the Special General Meeting of the

shareholders of the Company was held on January 29, 2016 and the shareholders

approved a Capital Reorganisation including a 1-for-5 reverse stock split of the

Company's ordinary shares.

The Capital Reorganisation will take effect, and the Company's ordinary shares

will begin trading on a split-adjusted basis on the New York Stock Exchange

("NYSE") as of the opening of trading on Wednesday, February 3, 2016 and the

Oslo Stock Exchange ("OSE") on February 4, 2016, under the existing trading

symbol "FRO."  Conversion of the Company's shares between the NYSE and OSE will

be restricted from February 1, 2016 to February 4, 2016.  The new CUSIP number

and ISIN number for the ordinary shares following the reverse stock split are

G3682E192 and BMG3682E1921, respectively.

When the reverse stock split becomes effective, every five shares of the

Company's issued and outstanding ordinary shares will be automatically combined

into one issued and outstanding ordinary share. This will reduce the number of

outstanding ordinary shares from approximately 781.9 million shares to

approximately 156.3 million shares.

No fractional shares will be issued in connection with the reverse split of the

issued and outstanding ordinary shares. Shareholders who would otherwise hold a

fractional share of the Company's ordinary shares will receive a cash payment in

lieu thereof at a price equal to that fraction to which the shareholder would

otherwise be entitled multiplied by the closing price of the Company's ordinary

shares on the NYSE on December 29, 2015.

Shareholders with shares held in book-entry form or through a bank, broker, or

other nominee are not required to take any action and will see the impact of the

reverse stock split reflected in their accounts on or after February 3, 2016.

Such beneficial holders may contact their bank, broker, or nominee for more

information.

Shareholders with shares held in certificate form will receive instructions from

the Company's exchange agent, Computershare, for exchanging their stock

certificates for a new certificate representing the ordinary shares resulting

from the reverse split.

Additional information about the reverse stock split can be found in the

Company's proxy statement furnished to the Securities and Exchange Commission on

January 11, 2016, a copy of which is available on the Commission's website at

www.sec.gov.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements.  The Private Securities Litigation Reform Act of 1995 provides safe

harbor protections for forward-looking statements, which 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 "believe," "anticipate," "intends,"

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

"pending" and similar expressions identify forward-looking statements. The

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

assumptions.  Although we believe 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 our control, we cannot assure you that we will achieve or accomplish

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

speaks only as of the date hereof, and we disclaim 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#1982403]