Privatisation  Agency  Management  Board  resolved  on  its  meeting of

September  2,  2003 that  the  bottom  price  for "Latvijas kuģniecība"

shares,  to  be auctioned at the Riga Stock Exchange open cash auction,

will be LVL 0.34 per share.



The  auction  will  take  place  on  September  15,  2003  at  the RSE.

11,515,086  (5.75%  of  share  capital)  state-owned  common registered

voting  shares will be auctioned. Public offer for cash will take place

from  September  9, 2003 till 14:00 of September 15, 2003. The bids for

auction  will be accepted by the banks and brokerage companies that are

the RSE members.



Krista Grīntāle

Corporate Communications Department Director

Riga Stock Exchange

Phone. + 371 7212431

e-mail: krista.grintale@rfb.lv