Preliminary Fourth Quarter and Financial Year 2007 Results

The Board of Frontline Ltd. (announces net income of $202.3 million for the fourth quarter of 2007, equivalent to earnings per share of $2.70. Operating income for the quarter was $152.7 million including a gain on sale of assets of $53.4 million. This gain consists of $37.0 million relating to the delivery of the second converted heavy lift vessel to Dockwise Ltd. (“Dockwise”) and $16.4 million relating to the termination of the lease for the Front Birch.