Company Profile For Frontline Ltd.

Frontline Ltd. (Frontline) is engaged primarily in the ownership and operation of oil tankers, including oil/bulk/ore (OBO) carriers. The Company operates tankers of two sizes: very large crude carriers (VLCCs), which are between 200,000 and 320,000 deadweight tons (dwt), and Suezmaxes, which are vessels between 120,000 and 170,000 dwt. As of February 28, 2009, the Company operated a tanker fleet consisting of 83 vessels. The fleet consists of 41 VLCCs, which are either owned or chartered in, 30 Suezmax tankers, which are either owned or chartered in, eight Suezmax OBOs, which are chartered in, and four VLCCs under its commercial management. In January 2008, the Company established Independent Tankers Corporation Limited (ITCL), as a wholly owned subsidiary for the purpose of holding, by way of contribution, its interests in Independent Tankers Corporation (ITC). In February 2008, Frontline spun off 17.53% of its holding in ITCL to its shareholders.

BRIEF: For the six months ended 30 June 2009, Frontline Ltd's revenues decreased 41% to $638.1M. Net income decreased 81% to $104.4M. Revenues reflect decreased income from operating revenue. Net income also reflects increased ship operating expenses, higher chartrhire expenses, a rise in depreciation charges, decreased interest income and an increased share of results from associated companies loss.

Frontline Ltd.
Par-la-Ville Place
14 Par-la-Ville Road
Hamilton     HM 08
P: +1441.2953494

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