JSC  "Latvijas kuģniecība" denies the information published on December

15,  2003  in  newspaper Komersant Baltic by Gaļina Moločkova about the

deal with three Panamax type tankers owned by "Latvijas kuģniecība". No

sales  agreement  has  been  signed, and the vessels are still owned by

"Latvijas kuģniecība".



As   reported  earlier,  on  December  5,  2003  "Latvijas  kuģniecība"

Supervisory  Board  allowed  to sell three tankers at the best possible

price, at the same time chartering them out to the potential buyers for

at least five years.