Hereby  JSC  "Latvijas  kuģniecība  "  (LASCO) informs that pursuant to

Management Board decision, approved by the  Supervisory Council, tanker

Talava has been sold for scrap.

Considering limited prospects for further employment of the 26-year-old

vessel  due to its technical condition, as well as EU phase-out program

and  age limits for single-hull tankers, further capital investments in

the  repair  and maintenance of m/t Talava would have been economically

unsound.

LASCO   Management Board decision on sale of m/t Talava was approved by

LASCO Supervisory Council on March 5, 2003.

At  present  LASCO Group fleet consists of 31 product tankers, 5 reefer

vessels, 1 Ro-Ro/general cargo vessel and 2 LPG carriers.



Marita Ozolina-Tumanovska

Head of PR departament

Latvian Shipping Company

Phone: +371 7020120

e-mail : ozolina@lsc.riga