Regarding the State guarantee for JSC “Liepajas Metalurgs” loan


With reference to the statement published on BNS news website 03.11.2008 at
15:01 herewith we provide the following information. Joint Stock Company
“Liepājas metalurgs” has appealed to Liepaja Municipal Duma (City Council) for
support in obtainment the State guarantee. A loan of LVL 112 million would give
us a possibility to continue the on-going modernization of the company which
will definitely increase competitiveness of JSC “Liepājas metalurgs” in the
European and world markets as well as allow complying with environmental
requirements determined by the European Union. If such guarantee from the State
is not obtained, JSC “Liepājas metalurgs” will continue working on other
possibilities in order to ensure development of its production process. 

Agrita Pakule
Assistant of the Chief
T.: 63455926, pakule@metalurgs.lv