FRO – Acquisition of vessels and time charter contracts

HAMILTON, BERMUDA–(MARKET WIRE)–Jun 25, 2008 —
Frontline Ltd. (the “Company” or “Frontline”) (NYSE:FRO – News) is pleased to announce the acquisition of five double hull Suezmax tankers en bloc from Top Ships Inc. at a purchase price of $240 million. The vessels are built in the period 1992 to1996, and will be delivered in the period June 2008 to August 2008.