57OT Hsbc Bk. 25

RNS Number:4096F
Frontline Ld
18 June 2001


FRO: Acquisition of assets

A consortium of Tankers International Partners consisting of Frontline, Euronav
and OSG each with 1/3 has entered into an agreement with Bergesen to acquire the
tankers Berge Ichiban and Berge Tokyo. The tankers are built in 2000 and are
296,000 dwt. The consortium will take delivery of the vessels in July/August
2001.

The two vessels are employed on time charter contracts to Exxon Mobil and Total
Fina Elf, and the sales are subject to charterers' approval.

The purchase price is USD 78 million per vessel.

The purchase further strengthens Tanker International's position as the leading
operator of modern VLCC tonnage.

Hamilton, Bermuda 

Contact persons:
Kate Blankenship, +1 441 295 6935 
Ola Lorentzon,    +47 2311 4000

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