The board of Frontline Ltd. announced that Miss Cecile Fredriksen and Mr. Tony Curry have resigned from their positions as directors of the company. Both Miss Fredriksen and Mr. Curry will continue to be board members in other related group companies. The company further announced the appointment of Georgina Sousa as a director to fill one of the vacancies on the board. Mrs. Sousa joined the company as Head of Corporate Administration in 2007. Mrs. Sousa is also a director of Golar LNG Limited, Golden Ocean Group Limited and Frontline 2012 Ltd.

Frontline Ltd., Special/Extraordinary Shareholders Meeting, May 08, 2013., at 09:30 Atlantic Daylight. Location: at 4th Floor, Par-la-Ville Place. Agenda: To consider the proposal of capital re-organisation.

Frontline Ltd. reported preliminary earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported a net loss attributable to the company of $16.6 million, equivalent to a loss per share of $0.21, compared with a net loss attributable to the company of $49.0 million and a loss per share of $0.63 for the preceding quarter and $344 million or $4.41 per share of prior year period. The net loss attributable to the company in the fourth quarter includes a loss on sale of assets and amortization of deferred gains of $2.6 million, which includes an aggregate deferred gain of $3.7 million relating to the sale and leasebacks of DHT Eagle (ex Front Eagle) and Gulf Eyadah (ex Front Shanghai), a gain of $11.2 million on the termination of the lease for the single hull VLCC Ticen Ocean, a loss of $16.5 million on the termination of the lease for Front Viewer and losses of $0.8 million and $0.2 million on the termination of the leases for Front Driver and Front Climber, respectively. Total operating revenues were $197.4 million against $182 million for the same period last year. Net operating gain was $6.7 million against operating loss of $305.5 million prior year. Net loss before taxes and non controlling interest was $16.8 million against $343.7 million of prior year period. For the year, the company reported a net loss attributable to the company of $82.8 million versus $530 million, equivalent to a loss per share of $1.06 versus $6.08 per share. Total operating revenues were $668.1 million against $810 million for the last year. Net operating gain was $7.7 million against operating loss of $399.6 million of prior year. Net loss before taxes and non controlling interest was $83.4 million against $528.5 million of prior year period. The company recorded a vessel impairment loss of $18.9 million in the fourth quarter of 2012. This loss comprises $14.2 million, which is the expected loss on the termination of the long term charter for the OBO carrier Front Guider in March 2013 and $4.7 million, which is the expected loss on the termination of the long term charter for the Suezmax tanker Front Pride in late February 2013. Based on results achieved so far in the first quarter, the current outlook and the early termination of the time charter out contracts on the two OBO carriers, Front Guider and Front Viewer, the board expects the operating result in the first quarter to be weaker than in the fourth quarter.