JSC Latvijas kuģniecība (Latvian Shipping Company - LASCO) as a participant in 100% owned daughter company has taken decision to confirm new wording of LASCO Investment Ltd. Statutes providing for two board members instead of one at present. Raitis Nešpors, who since the end of 2005 was the manager for Latvia of the international real estate consulting company Resolution, has been elected as the Chairman of the Management Board. Raivis Veckāgans, the vice-president of LASCO, has been elected as the member of the Management Board. Contract with the former member of the Management Board Leons Skrebelis has been terminated. LASCO Investment Ltd. handles the management and development of investments of JSC Latvian Shipping Company. LASCO Investment Ltd. is established on the basis of the existing LASCO daughter company Kuģu menedžments Ltd, which in the result of reorganization has acquired two other 100% daughter companies of LASCO - Jūrnieku mācību centrs and Kuģu remonta bāze. Simultaneously the name of Kuģu menedžments Ltd. is changed to LASCO Investment Ltd. More detailed information: Marita Ozolina-Tumanovska Head of PR Department Phone: +371 67020120, 29287169 E-mail : marita.ozolina@lscgroup.lv