FRO - Announces the Second Amended and Restated Equity Distribution Agreement

Frontline Ltd. (NYSE:FRO) ("Frontline") announces that it has filed with the United States Securities and Exchange Commission a prospectus supplement covering the second amendment and restatement of its previously announced equity distribution agreement with Morgan Stanley & Co. LLC, ("Morgan Stanley"), under which the amount of new ordinary shares Frontline may offer and sell, at any time and from time to time through Morgan Stanley in an at-the-market offering, was increased to having aggregate sales proceeds of up to $150.0 million, from up to $100.0 million.

Sales of Frontline's ordinary shares, if any, will be made by means of ordinary brokers' transactions on the New York Stock Exchange, or otherwise at market prices prevailing at the time of sale, at prices related to the prevailing market prices, or at negotiated prices.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering is being made by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering has been filed with the Securities and Exchange Commission. Copies of the prospectus and prospectus supplement relating to the offering may be obtained from the offices of Morgan Stanley at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department or by email at [e-mail]. Links to the filings with the Securities and Exchange Commission of the prospectus and prospectus supplement are also available on Frontline's website.

January 28, 2015
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

Questions should be directed to:
Robert Hvide Macleod: Chief Executive Officer, Frontline Management AS
[phone]
Inger M. Klemp: Chief Financial Officer, Frontline Management AS
[phone]

FORWARD LOOKING STATEMENTS

Matters discussed in this press release 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.