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“I am of the opinion that” vs. “I think that”

Do the two phrases have exactly the same meaning? If not, could you please explain it and give me some example sentences?

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These two phrase have roughly the same meaning.

“I am of the opinion that” is more formal, and implies a more deliberate and considered process of forming the opinion. "I think that" is more casual in usage, and also implies a more casual process of coming to a conclusion. But in most contexts they can be used interchangeably.

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