Hereby JSC Latvijas kuģniecība (Latvian Shipping Company - LASCO) informs that today, 21 May 2007, a festive naming and delivery ceremony of m/v Kandava, being already sixth of in total fourteen newbuildings ordered by LASCO, took place at Hyundai Mipo Dockyard Co. Ltd. in Korea. May 2007 is remarkable for LASCO's fleet, since within one month it will be expanded with two tanker newbuilds. The first of them, m/v Kandava, has been delivered today by Hyundai Mipo Dockyard Co. Ltd. It is already the second newbuilding constructed by the Korean shipyard for LASCO. The honour of being the ship's Godmother was entrusted to Ms. Solvita Deglava, Member of JSC Latvijas kuģniecība Management Board and the Company's Vice-president. Exactly a week after the delivery of Kandava, LASCO will take the delivery of already fifth newbuilding Ugale at 3.Maj shipyard in Croatia. The ship was blessed and named by her Godmother Ms. Lilita Seimuškāne, Director of Ventspils Development Agency and lecturer at the Faculty of Economics and Management, the University of Latvia, on 10 February 2007. As already reported, in order to implement the main strategic goal set in its Strategic Plan 2005-2010, namely, to retain the Group's position among the world's top ten handy-size and middle-range tanker owners at the same time preserving its leading position in the North European market, LASCO has ordered 14 tanker newbuildings: 4 at Hyundai Mipo Dockyard in Korea and 10 at 3.Maj shipyard in Croatia. At present JSC Latvijas kuģniecība fleet comprises 29 tankers, 2 LPG carriers, 5 reefer vessels and 1 Ro-Ro/general type vessel, as well as three tankers (Blue Star, Green Star and Maria M) time chartered in from other ship-owners. For detailed information: Marita Ozolina-Tumanovska Head of Public Relations Department Phone: 67020120, 29287169 E-mail: marita.ozolina@lscgroup.lv