Holders of Frontline warrants have exercised 24,448 warrants. Frontline Ltd has in exchange for proceeds equal to USD 38,836 issued 2,441 shares.
Frontline has acquired 248,233 warrants at a price of NOK 4.38 per warrant.
Total number of outstanding shares after this is 76,926,934, and total number of outstanding warrants is 23,094,271.
Hamilton, Bermuda
27 April, 2001
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