Frontline Ltd. : FRO - Termination of charter-in contract of Suezmax tanker

 Frontline Ltd. : FRO - Termination of charter-in contract of Suezmax tanker

Frontline Ltd. ("Frontline" or the "Company") has agreed with Ship Finance
International Limited ("Ship Finance") to terminate the long term charter
party for the Suezmax tanker Front Pride and Ship Finance has simultaneously
sold the vessel. The charter party is expected to terminate in late February
2013. Frontline will make a compensation payment to Ship Finance of
approximately $2.1 million for the early termination of the charter. The
transaction will reduce the Company's obligations under capital leases by
approximately $5.1 million and the Company expects to record a loss of
approximately $4.7 million.

February 7, 2013
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

Questions should be directed to:
Jens Martin Jensen: Chief Executive Officer, Frontline Management AS
+47 23 11 40 00
Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 00

        FORWARD LOOKING STATEMENTS

Matters discussed in this document may constitute forward-looking  statements. 
The Private Securities  Litigation Reform  Act of 1995  provides safe  harbor 
protections for forward-looking statements in order to encourage companies  to 
provide  prospective  information   about  their  business.   Forward-looking 
statements include statements concerning plans, objectives, goals, strategies,
future events or performance, and underlying assumptions and other statements,
which are other than statements of historical facts.

Frontline desires  to take  advantage of  the safe  harbor provisions  of  the 
Private Securities  Litigation  Reform  Act  of 1995  and  is  including  this 
cautionary statement  in connection  with this  safe harbor  legislation.  The 
words "believe," "anticipate,"  "intends," "estimate," "forecast,"  "project," 
"plan," "potential," "will," "may,"  "should," "expect" "pending" and  similar 
expressions identify forward-looking statements.

The forward-looking  statements  in  this  document  are  based  upon  various 
assumptions, many  of which  are  based, in  turn, upon  further  assumptions, 
including without limitation, management's examination of historical operating
trends, data contained in  Frontline's records and  other data available  from 
third parties.  Although  Frontline  believes  that  these  assumptions  were 
reasonable when  made, because  these assumptions  are inherently  subject  to 
significant uncertainties and contingencies which are difficult or  impossible 
to predict and  are beyond  Frontline's control,  you cannot  be assured  that 
Frontline  will  achieve   or  accomplish  these   expectations,  beliefs   or 
projections. Frontline  undertakes  no  duty  to  update  any  forward-looking 
statement  to  conform  the  statement   to  actual  results  or  changes   in 
expectations.

Important factors that,  in Frontline's  view, could cause  actual results  to 
differ materially  from  those  discussed in  the  forward-looking  statements 
include, without limitation: the strength  of world economies and  currencies, 
general market  conditions, including  fluctuations in  charterhire rates  and 
vessel values,  changes in  demand in  the tanker  market, including  but  not 
limited to changes in  OPEC's petroleum production levels  and world wide  oil 
consumption and storage, changes in Frontline's operating expenses,  including 
bunker prices,  drydocking and  insurance costs,  the market  for  Frontline's 
vessels, availability of  financing and  refinancing, ability  to comply  with 
covenants in such financing arrangements,  failure of counterparties to  fully 
perform their contracts with us, changes in governmental rules and regulations
or actions taken by regulatory  authorities, potential liability from  pending 
or future litigation, general domestic and international political conditions,
potential disruption of shipping routes due to accidents or political  events, 
vessel breakdowns, instances of off-hire  and other important factors. For  a 
more complete discussion of these and other risks and uncertainties associated
with Frontline's  business,  please  refer to  Frontline's  filings  with  the 
Securities and Exchange Commission, including, but not limited to, its  annual 
report on Form 20-F.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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Source: Frontline Ltd. via Thomson Reuters ONE
HUG#1676471
 
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