JSC Ventspils nafta publishes the short list of shareholders to prevent public speculations

The Management Board for the public joint stock company Ventspils nafta taking
into account good governance principles has made a decision to publish the
short list of owners of JSC Ventspils nafta shares, which is at its disposal
and was compiled in compliance with the law, placing the list on the website of
JSC Ventspils nafta www.vnafta.lv on the Internet. The list contains names of
the owners of public issue shares who blocked their own shares in
correspondence with law to participate in the regular meeting of shareholders
of JSC Ventspils nafta on 27 April 2007, as well as names of the owners of
closed issue shares. 

Pursuant to the Commercial Law of the Republic of Latvia, the Management Board
for JSC Ventspils nafta is not obliged to publish such a list, however, it
shall guarantee the shareholders availability of it three days prior to the
meeting of shareholders, which starting from today, 24 April 2007 2 pm, is
ensured by JSC Ventspils nafta at the company's central office at 23, Ostas
Street in Ventspils like before any meeting of shareholders taken place in the
previous years. 

However, taking into consideration the fuss made in last weeks by separate
owners of JSC Ventspils nafta shares, or their representatives, thus trying to
influence in a way also the management of JSC Ventspils nafta whose powers of
reference does not cover and cannot cover any decisions made by shareholders,
the Management Board for JSC Ventspils nafta made a decision to publish the
short list of shareholders approved during the meeting of Management Board held
on 23 April 2007 in order to prevent further speculations as to the name of JSC
Ventspils nafta thereof. 

The list available on the Internet will let each shareholder get acquainted
with information of its interest in an optimal way offering possibility to
obtain immediate data without the use of speculative manipulations. In order to
meet data protection requirements in relation to minority shareholders of JSC
Ventspils nafta being physical persons, JSC Ventspils nafta on its Internet
website publishes the list of the owners of public and closed issue shares
whose total number of shares owned in JSC Ventspils nafta exceeds 0.15% of the
share capital of JSC Ventspils nafta. 

JSC Ventspils nafta
For further information, 
please contact Gundega Vārpa 
calling 7229793 or e-mailing to: 
gundega.varpa@vnafta.lv.