CORRECTION – First Quarter 2006 Results

17.05.2006

Reference is made to the stock exchange disclosure regarding the first quarter 2006 results for Knightsbridge Tankers released on Tuesday May 16, 2006. Please note that the correct section of the report titled OUTLOOK should have read as follows;

OUTLOOK

At the time of writing the VLCC market has improved from April levels but rates are still influenced by seasonally slower demand for transportation due to, among other things, refinery maintenance in certain consuming areas. Against a background of strong economies and expectations for steady oil consumption the Board believes that the 2006 year will develop satisfactorily. The Board will continue to evaluate opportunities for employment of the VLCCs and to look for new possibilities in the company’s business segment.

The original release contained additional information after the first three sentences in the OUTLOOK section that related to the fourth quarter 2005 press release and should have been deleted from the first quarter 2006 press release.

CORRECTION – First Quarter 2006 Results

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