On 30 May 2001, Frontline acquired 9,099,693 shares in Mosvold Shipping. Frontline now owns 78,649,156 shares in Mosvold Shipping. In addition, Frontline has received acceptances of its recently expired public offer to acquire shares in Mosvold Shipping corresponding to 4,554,432 shares in Mosvold Shipping.
Including the acceptances, Frontline now controls 83,203,588 shares in Mosvold Shipping, corresponding to 97 % of the 85,740,909 shares outstanding.
Hamilton, Bermuda
31 May 2001