Hereby  JSC  Latvian  Shipping  Company  (LSC)  informs that Settlement

Agreement  has  been  signed  between LSC and the Plaintiff in Stocznia

Gdanska  shipyard  case.  LSC legal representatives in London confirmed

that   seven-year   legal  proceedings  between  Stocznia  Gdanska  and

Latreefers Inc. have been ceased.

The  said Settlement Agreement is deemed to be confidential, and LSC is

not entitled to disclose any terms and conditions thereof without prior

consent of the second Party.

Latvian Shipping Company

Marita Ozolina-Tumanovska

PR Manager

Phone: + 371 7020120,

GSM+371 9287169

E-mail:ozolina@lsc.riga.lv