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.

The  forward-looking statements  in this press release  are based  upon various assumptions, many  of  which  are  based,  in  turn, upon further assumptions, including  without  limitation,  examination  by  the  Company's  management  of historical  operating  trends, data contained  in  its records and other data available from third  parties. Although  the  Company  believes  that  these assumptions were reasonable when made, because these assumptions are inherently subject  to significant uncertainties and contingencies which  are difficult or impossible  to predict and are beyond  the Company's control, the Company cannot assure  you that  it will  achieve or accomplish these expectations, beliefs or projections.

In  addition to  these important  factors, other  important factors that, in the Company's view, could  cause  actual  results  to differ materially from those discussed  in  the  forward-looking  statements include the strength of world economies and currencies, general market  conditions, including fluctuations in charter  rates and vessel  values, changes in demand  for dry bulk shipping capacity, changes in the Company's operating expenses, including bunker prices, drydocking  and  insurance  costs,  the  market  for  the Company's  vessels, availability  of financing  and refinancing, changes in  governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending  or  future litigation, general  domestic  and international political conditions, potential  disruption  of  shipping  routes  due  to  accidents  or political  events, vessels  breakdowns  and  instances  of  off-hires and other factors.  Please see our filings with the Securities and Exchange Commission for a  more complete  discussion of  these and  other risks  and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation  to update any forward-looking statements as a result of developments occurring after the date of this communication.

Questions should be directed to:

Contact: Ola Lorentzon: Chairman and Chief Executive Officer, Knightsbridge Tankers Limited + 46 703 998886

Inger M. Klemp: Chief Financial Officer, Knightsbridge Tankers Limited +47 23 11 40 76

[HUG#1736541]

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