HAMILTON, Bermuda, Sept. 30, 2002 (PRIMEZONE) -- Frontline (NYSE:FRO):
Hemen Holdings Ltd. has, through market purchases on September 27, acquired 250,000 shares in Frontline Ltd. The shares have been acquired at an average price of NOK 30.69. Hemen Holdings Ltd. owns, after this, 35,079,054 shares in Frontline Ltd., equivalent to 45.9% of all outstanding shares.
Hemen Holdings Ltd. is indirectly controlled by Frontline Ltd.'s Chairman John Fredriksen.
Sincerely yours, Dimitris Hannas Hemen Holdings Ltd.