Today, 6 March 2007, already fourth newly built tanker named Targale has been delivered to JSC Latvijas kuģniecība (Latvian Shipping Company - LASCO) in a festive delivery ceremony held at 3.Maj shipyard in Croatia. In total, ten tanker newbuilds have been ordered by LASCO at 3.Maj. The launching and naming ceremony of m/t Targale took place on 18 November 2006, the day when the 88th Anniversary of the Proclamation of the Republic of Latvia was celebrated both in and outside Latvia. The honour of being the ship's Godmother was entrusted to Ms. Daiga Dzedone, Chief Architect of the city of Ventspils. Immediately upon the launching of m/t Targale, the keel was laid for the next (fifth) Latvijas kuģniecība newbuilding. The delivery of LASCO's first newbuilding Ance took place on 7 July 2006, enabling the Group to commence the implementation of its main strategic goal set in its Strategic Plan 2005-2010, namely, to retain the Group's position among the world's top ten handy-size and middle-range tanker owners at the same time preserving its leading position in the North European market. LASCO's second newbuilding Jurkalne was delivered on 19 September 2006. The third newly built tanker Puze joined LASCO's fleet on 12 December 2006. M/t Targale, Puze, Jurkalne and Ance, as well as their six sister vessels ordered at 3.Maj, represent middle range (51,773 dwt each) double hull ice-classed product tankers built to comply with all EU marine safety requirements and international conventions. For detailed information: Marita Ozolina-Tumanovska Head of PR Departament Phone: (+371) 7020120, 29287169 E-mail: marita.ozolina@lscgroup.lv