Frontline Corporation - Outcome of Board Meeting - June 14, 2008

Frontline Corporation Ltd has informed that the Board of Directors of the Company at its meeting held on June 06, 2008, inter alia, has Modified / Amended / Revised the Scheme of Amalgamation as approved by the Board of Directors at its meeting held on February 14, 2007 with Tranfer Date of April 01, 2006 upon withdrawal of Fairdeal Supplies Pvt Ltd and inclusion thereto Shiv Shakti Steel Pvt Ltd, with Transfer Date April 01, 2007.

The Board also approved the specimen of Modified / Amended / Revised Scheme of Amalgamation of Shiv Shakti Steel Pvt Ltd, Falgun Exports Pvt Ltd, Neha Trades & Finance Pvt Ltd, Falgun Financial Services Ltd, Kajal Trading Ltd, Nova Impex Pvt Ltd, Trimurti Auto Finance Pvt Ltd with Frontline Corporation Ltd.