HAMILTON, Bermuda, Sept. 26, 2002 (PRIMEZONE) -- Hemen Holdings Ltd. has, through market purchases on September 25, acquired 250,000 shares in Frontline Ltd. The shares have been acquired at an average price of NOK 28.29. Hemen Holdings Ltd. owns after this, 34,829,054 shares in Frontline Ltd., equivalent to 45.5% of all oustanding shares.
Hemen Holdings Ltd. is indirectly controlled by Frontline Ltd.'s Chairman, John Fredriksen.
Sincerely yours,Dimitris Hannas Hemen Holdings Ltd.
HEMEN HOLDINGS LTD.740B John Kennedy StreetIris HouseLIMASSOL, CYPRUS