Hereby  JSC  Latvian  Shipping Company (LSC) informs that in accordance

with  LSC  Group's  Strategic Plan an Agreement of sale has been signed

for  7  Kurska type reefers and the process the vessels delivery to the

new owner has started.



 The  Agreement was signed with a company representing the interests of

Baltic Reefers London , and pursuant to the terms and conditions of the

contract all financial details shall remain confidential.



 According  to  LSC  Group's Strategic Plan 2003-2010 proceeds from the

disposal  of  the  above vessels will be invested in the renewal of the

company's most profitable sector - tanker fleet.



 The  decision  on  sale of seven Kurska type reefers was made based on

their insufficient profitability.





Marita  Ozolina-Tumanovska,  Head  of  PR departament, Latvian Shipping

Company,   Phone:   +371   7020120,   Fax:   +371   7820239,  E-mail  :

ozolina@lsc.riga.lv