Frontline - Termination of charter of a single hull VLCC

March 11, 2008

Frontline Ltd. (the "Company" or "Frontline") has agreed with Ship Finance International Limited ("Ship Finance") to terminate the long term charter party between the companies for the single hull VLCC Front Sabang and Ship Finance has simultaneously sold the vessel on hire/purchase terms. Concurrently, the Company informs that the previously announced termination of the long term charter party between the companies for the single hull VLCC Front Duchess has been cancelled.

The Company expects the termination of the charter for Front Sabang to take place in April 2008 and Ship Finance will then make a compensation payment to Frontline of approximately $25 million for the early termination of the current charter party, which will be recognized in the second quarter of 2008.

Frontline Ltd. press release