Frontline has through market purchases executed 3 January 2001 bought back 257,300 of the Company’s common shares. The shares have been bought back at a price of NOK 109.82.
Total number of outstanding shares after this is 77,811,511. The shares have been acquired in accordance with a Board authorization to buy back shares. Including the mentioned transaction 1,979,145 shares has been acquired within a total of 2,500,000 authorized.
Hamilton, Bermuda
3 January, 2001