apply for listing of its ordinary shares on the New York Stock Exchange.

Frontline's ordinary shares are currently listed on the Nasdaq National Market in the form of American depository receipts (ADRs). When the listing on the NYSE is attained, these ADRs will no longer be traded on the Nasdaq.

The company is separately providing a formal 90-day written notice terminating its ADR programme, in line with the governing agreement. Because of this 90 day requirement Frontline expects its new NYSE listing will not take place until approximately the middle of June.

Frontline's ordinary shares are also listed on the Oslo Stock Exchange and the London Stock Exchange, but these listings will not be affected by this announcement.

Frontline chairman and CEO John Fredriksen said: "Moving to the NYSE will be an important milestone for Frontline. We are very excited about the possibility of an NYSE listing and look forward to our first day of trading there.

"We feel that an NYSE listing will enhance Frontline's presence in the US capital markets and we expect this to improve the liquidity of our shares in the US market. We expect to begin the formal application process shortly.'' Frontline's fleet comprises 29 Suezmax tankers, 32 VLCCs (very large crude carriers) and ten dry bulk carriers and is one of the most modern in the world. Through corporate transactions undertaken over the past five years the company has become the leading tanker company within the Suezmax and VLCC sector.

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