Knightsbridge Tankers Limited Announces Long Term Charter

04.02.2004

FOR IMMEDIATE RELEASE

KNIGHTSBRIDGE TANKERS LIMITED

Knightsbridge Tankers Limited Announces Long Term Time Charter

Knightsbridge Tankers Limited (“Knightsbridge” or the “Company”) is pleased to announce it has secured a long-term time charter contract, for one of the Company’s five very large crude carriers (VLCC’s), with a highly reputable charterer.

The five year agreement will help to provide a steady and predictable flow of revenue with secured income of approximately $31,000 per day for the duration of the contract. The arrangement will commence in mid March, 2004 upon the redelivery of the vessel from Shell International Petroleum Company.

Knightsbridge’s Common Shares trade on the Nasdaq National Market under the symbol “VLCCF”.

Knightsbridge Tankers Limited Announces Long Term Charter

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