Added English version.

In accordance with goals set in the strategy of JSC Latvijas kuģniecība (LASCO
- Latvian Shipping Company) approved by Supervisory Council targeted at maximum
efficiency of all the units within LASCO Group, there have been chages made
into Management Board of JSC Latvijas kuģniecība daughter company LSC
Shipmanagement Ltd. 

In order to promote performance operativeness of  LSC Shipmanagement Ltd., JSC
Latvijas kuģniecība as a participant in 100% owned daughter company has taken
decision to confirm new wording of LSC Shipmanagement Ltd. Statutes and
standing orders of the Management Board  providing for three board members
instead of six at present. Vladimirs Chumachenko, Manager of Safety and Quality
Assurance group and very experienced employee of the company, has become
Chairman of the Management Board.  Raivis Veckagans, Vice-President of Latvijas
kuģniecība has been elected and former Board Member K.Zakss has been re-elected
as Members of the Management Board. The newly elected Management Board Members 
have mandate for three years. 

Contracts with former LSC Shipmanagement Ltd. Management Board Members 
M.Ekbaums, K.Zakss, V.Gavrilenko, A.Boza, A.Bekeris and A.Kreslins have been
terminated. 



For further information:
Marita Ozolina-Tumanovska
Head of PR Departament
Phone: +371 67020120, 29287169
E-mail : marita.ozolina@lscgroup.lv