On  July  5,  2002,  Riga  city  Centra  Regional  Court judge S.Meliņa

cancelled the ban to transfer "Latvijas Kuģniecība" 102,000,000 shares,

imposed  earlier on June 28. This decision is based on the joint appeal

by  the  Riga  Stock  Exchange  and Privatisation Agency, requesting to

replace  the encumbrance on public shares of by a safety deposit of LVL

30,000.  The  court  also  contracted  the  deadline  for  the claimant

Fernadero  Limited regarding the submitting of their claim to the court

- now it is July 20, 2002.



The court decision comes into effect without delay.