ITCL - Extension of Charters

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 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Independent Tankers Corporation Limited via Thomson Reuters ONE [HUG#1628558]