Capital Adjustments
| Source: Frontline plc.
Further, holders of Frontline warrants have exercised 7,829 warrants. Frontline has in exchange for proceeds equal to USD 12,410 issued 780 shares.
Total number of outstanding shares after this is 79,600,545 and total outstanding warrants is 25,920,458.
Hamilton, Bermuda
4 December, 2000
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