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VLCCF - Knightsbridge Tankers Limited Announces Public Offering

HAMILTON, Bermuda, Oct. 17, 2013 (GLOBE NEWSWIRE) -- Knightsbridge Tankers Limited (the "Company"  or "Knightsbridge")  (NASDAQ: VLCCF) today announced a public offering of common shares. The Company also intends to grant the book-running manager a 30-day option to purchase additional common shares representing 15% of the offered shares. The common shares are being offered pursuant to the Company's effective shelf registration statement.

The Company intends to use the net proceeds of this offering to partially fund the acquisition of newbuilding vessels and for general corporate purposes.

Morgan Stanley is acting as the sole book-running manager for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering is being made only by means of a prospectus and related prospectus supplement. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus and  prospectus supplement relating to the offering may be obtained from the offices of Morgan Stanley &  Co. LLC  at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Delivery Department.

Forward-Looking Statements

Matters  discussed   in  this  press  release  may  constitute  forward-looking statements.  The Private Securities Litigation  Reform Act of 1995 provides safe harbor   protections  for  forward-looking  statements  in  order  to  encourage companies  to  provide  prospective  information  about their business. Forward- looking  statements  include  statements  concerning  plans,  objectives, goals, strategies,  future events or performance,  and underlying assumptions and other statements, which are other than statements of historical facts.

The  Company desires  to take  advantage of  the safe  harbor provisions  of the Private   Securities  Litigation  Reform  Act  of  1995 and  is  including  this cautionary  statement in connection with this safe harbor legislation. The words "believe,"  "anticipate," "intends," "estimate,"  "forecast," "project," "plan," "potential,"  "may,"  "should,"  "expect,"  "pending"  and  similar  expressions identify forward-looking statements.

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