Frontline Ltd. - Termination of charters for two single hull VLCCs

Hamilton, Bermuda, Fevruary 18, 2011

Frontline Ltd. ("Frontline") has agreed with Ship Finance International Limited ("Ship Finance") to terminate the long term charter parties between the companies for the single-hull VLCCs Front Highness and Front Ace. Ship Finance has simultaneously sold the vessels to unrelated third parties.

The terminations of the charters are expected to take place in March 2011. Ship Finance will make a compensation payment to Frontline of approximately $5.8 million for the early termination of the charters, which is expected to be recorded in the first quarter of 2011.

Frontline Ltd.