Unofficial results 



Today  a  privatisation auction of Latvian Shipping Company state-owned

shares  was run at the Riga Stock Exchange. 64 258 056 shares or 32% of

the company capital were sold at LVL 1,11 per share.



The  total  number  of  winning bids was 5 567. This means that all the

bidders  who  bid  LVL  1,11  or  a higher price, or willing to buy "at

market  price", have bought Latvian Shipping Company shares. The number

of privatisation vouchers exchanged for shares is 2 547 369,3.



Guntars  Kokorevičs,  President,  Riga  Stock  Exchange:  "This auction

concludes  the  first  phase of Latvian Shipping Company privatisation.

The  results  still  have  to  be approved by Privatisation Agency. The

successful  selling of all the 64 million shares put out for sale ranks

this offering, in terms of volume, number one in the history of Latvian

public  offering for privatisation vouchers. This is an evidence of the

high interest in the company, and will serve as a positive stimulus for

further privatisation of Latvian Shipping Company". 



It  is  expected that the Privatization Agency will confirm the results

of the auction on April 30, 2002.



Krista Grīntāle

Marketing and Information Department

Riga Stock Exchange

Phone 7 212431