PRESS RELEASE

Press release from Frontline Ltd. - 24.07.1998

Frontline Ltd. yesterday took delivery of the first VLCC in the C-Class series from the Hyundai Shipyard. The ship FRONT CENTURY, 308,000 dwt, was immediately after delivery, fixed for a voyage charter to the Korean oil company, L.G. Caltex, generating a T/C income of USD 42,000 per day.

Frontline Ltd has through the delivery of FRONT CENTURY added three Suezmaxes and one VLCC to the fleet during 1998. Frontline Ltd. will in the first half of 1999 take delivery of another four VLCCs in the C-Class series. In addition, two more Suezmaxes will be delivered in the first half of 2000. The two Suezmaxes complete the company`s current newbuilding programme.

Bermuda, 24 July 1998

Contact person: Kate Blankenshipi +1 441 295 6935

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