CORRECTION: Announcement of JSC “Latvijas kuģniecība”


Supplementary information and added English version.

With reference to the news article publicized by the news agency “LETA” on
September 10, 2008 which says that JSC “Latvijas kuģniecība” (Latvian Shipping
Company - LASCO) considers the possibility of trading its shares on the Warsaw
Stock Exchange, LASCO informs, that being one of the largest companies in
Latvia and one of the largest ship owners in the world within the segment of
handy or medium sized tankers' segment, the shares of which are traded on the
public stock exchange, LASCO has a regular interest about financial instrument
market in the region and does receive the same interest from the participants
of the market. In order to understand the situation within the financial
market, to fully comprehend the processes taking place within as well as the
link with the global market topics, the experts and specialists of LASCO are
willing to get familiar with influential organisations of the market and their
opportunities. At present the said issues within the said context have not been
reviewed and taken by the management of Latvian Shipping Company. 

LASCO has the leading position among analogue companies in Northern Europe in
the amount of turnover of oil product shipments. The basis of the success of
LASCO is qualitative shipments of cargo worldwide  as well as provision of its
ships with highly qualified and professional crews conformable with
international conventions. Among LASCO clients there are companies which are
widely known in the world market. Both LASCO offshore management structures and
its tanker and gas carrier fleets have received ISM (International Safety
Management) certificate. 

More detailed information:
Marita Ozolina-Tumanovska
Head of PR Department
Phone: +371 67020120, 29287169
E-mail : marita.ozolina@lscgroup.lv