Vessel  "Seevetal"  ("Komponists Čaikovskis") - a "Latvijas Kuģniecība"

property  and  on  a bareboat charter to "ADG Shipmanagement, Hamburg",

has been bought out by the lessor, since the terms of conditions of the

bareboat  charter  agreement  signed  on  January  14,  1999  have been

fulfilled.  On June 25, 2002 "Seevetal" ("Komponists Čaikovskis") sales

agreement  was  signed,  and  the  vessel  was  deleted  from "Latvijas

Kuģniecība" group balance sheet.