FRO - Increase in share capital

Hamilton, Bermuda, December 31, 2013

Reference is made to the announcement by Frontline Ltd. ("Frontline" or the "Company") of the Company's entry into an at the market equity distribution program on June 6, 2013.

Frontline has issued 1,193,300 ordinary shares under that program during the month of December 2013.

Following such issuance, Frontline has an issued share capital of USD 86,511,713 divided into 86,511,713 ordinary shares.

Frontline Ltd. press release