JSC  "Latvijas kuģniecība", pursuant to the request of the Prosecutor's

office and exercising its rights, on October 20, 2003 submitted a civil

claim USD 24 million worth in Banka Baltija case.



In 1995 a deposit agreement at total value of USD 24 million was signed

between  Latvijas  kuģniecību,  its  daughter company Latalpha Holdings

Corporation  and  Banka Baltija (BB). Pursuant to the provisions of the

agreement, the amount was paid to the account of Finhold Ltd., owned by

BB  president A.Lavents. BB spent the money to pay for an acquisition -

Ceska  Bank   shares. Since Latvijas kuģniecība daughter company failed

to  receive  the  deposited  amount, in 1995 the amount was included in

creditor's  claim.  However,  it was not met, since the receipt  of the

amount USD 24 million  had not been entered in the books of BB .