Today, on September 3, the Participants' Meeting of LatRosTrans that is

a  daughter  company  of  Ventspils  Nafta  has  resolved  on including

LatRosTrans  into  Commercial  Register  and  in  accordance  with this

resolution the revised version of LatRosTrans Charter has been approved

as  well  as  the  new  Members  of both the Board and the Council were

elected.



When  resolving on including LatRosTrans in to the Commercial Register,

it has been also necessary for the new version of LatRosTrans ' Charter

to  be  approved  by making it corresponding to the requirements of the

Commerce Law of the Republic of Latvia as well as amending respectively

the  management  system  of  the  company.  Further  on  the  executive

structure  of  the  company  will be the Board which activities will be

supervised by the Council.



Mr.Alexander  Gouba  who  as  starting  from September 7, 2004 shall be

responsible  for  the  daily operations of the company and replaces the

existing  General  Director  Mrs.Jadvīga Bērziņa who as agreed with the

shareholders   representatives  of  LatRosTrans  will  be  leaving  her

position  in  the  company  on  September  6, 2004, has been elected as

Member of the Board by the Participants' Meeting of LatRosTrans .

From the Owner's - Ventspils Nafta - side the following representatives

have  been  elected  as  Members of the Council : Mr.Vladimirs Krastiņš

(Chairman),  Mrs.Olga Pētersone, Mr.Laimonis Junkers, Mr.Roland Kalniņš

and   Mr.   Sergejs   Aleksandrovs.   From   the   Russian   owner's  -

Transnefteproduct  -  side  the Council is represented by the following

Members: Mr.Viktors Ligalovs (Deputy Chairman), Ildus Ishmukhametov and

Marat Kourbanov.