FRO – Second Quarter 2007 Results

* Frontline reports net income of $189.1 million and earnings per share of $2.53 for the second quarter of 2007. * Frontline reports half year net income of $347.9 million and earning per share of $4.65. * Frontline reports a total gain on sale of assets of $66.1 million consisting of $31.2 million relating to the sale of its shares in Sea Production, $21.8 million to the delivery of the first converted heavy lift vessel and $13.1 million relating to the termination of the capital lease for Front Vanadis. * Frontline reports a gain on the issuance of shares in Sealift in connection with the business combination with Dockwise of $43.7 million in the second quarter. * The lease from Ship Finance for the single hull VLCC Front Vanadis (1990) was terminated in the second quarter.