LASCO is recognised as a victim within the criminal procedure for incurring losses in the amount of 36 million US dollars

| Source: Latvijas kugnieciba Latvijas kugnieciba 

JSC „Latvijas kuģniecība” (Latvian Shipping Company - LASCO) has received
decision of Economic Police on recognition of LASCO as a victim within a
criminal procedure, as the result during the period of the Year 2003 and 2005
the company due to charter contracts signed by the previous management at
undervalue suffered losses more than 36 million US dollars. The criminal
procedure was initiated for the features of a criminal offence, provided for in
the Article 197 and 177, Part Three of the Criminal Law. 


For further information, 
please contact 
Marita Ozoliņa-Tumanovska
tel. +371 67020120, 29287169,
e-mail: marita.ozolina@lscgroup.lv