VLCCF - Sale of VLCC and Revised Ex Dividend Date 

VLCCF - Sale of VLCC and Revised Ex Dividend Date

HAMILTON, NORWAY, Nov 22, 2012 (Menafn - MARKETWIRE via COMTEX) --Knightsbridge Tankers Limited ("Knightsbridge" or "the Company")announces that the VLCC Kensington has been sold to an unrelatedthird party with expected delivery in November 2012. The Companyexpects to record a gain of approximately 0.1 million in the fourthquarter having recorded an impairment loss of 13.5 million on thisvessel in the third quarter. The net cash proceeds from the sale areapproximately 10 million after repayment of debt.

The sale of the Kensington is part of Knightsbridge's strategy torenew and grow the fleet and the proceeds will assist the Company inreacting to interesting acquisition opportunities. After the sale,the Company's fleet consists of four Capesize vessels and one VLCC.

The Company announces revised ex dividend date, November 26, 2012.The record date and the payment date for the dividend remains the sameas previously announced in the press release dated November 7, 2012.

The Board of Directors Knightsbridge Tankers Limited Hamilton,Bermuda November 22, 2012

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(i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for thecontent, accuracy and originality of the information containedtherein.

Source: Knightsbridge Tankers Limited via Thomson Reuters ONE[HUG#1660058]

Questions should be directed to:

Contact:
Ola Lorentzon
Chairman
Knightsbridge Tankers Limited
46 703 998886

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

SOURCE: Knightsbridge Tankers Limited

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