ITCL - Extension of Charters

Press release from Independent Tankers Corporation Limited 23.07.2012

Independent Tankers Corporation Limited announces that BP Shipping Ltd. has extended the charters for the VLCCs British Purpose and British Pride for one additional year. British Purpose will trade on a market rate with a minimum bareboat rate of $20,000 per day until July 14, 2014. British Pride will trade on a market rate with a minimum bareboat rate of $20,000 per day until July 30, 2014.

The Board of Directors
Independent Tankers Corporation Limited
Hamilton, Bermuda
July 23, 2012

Questions should be directed to: 
Magnus Vaaler, Frontline Management AS               
+47 23 11 40 00