The  shareholder  of  JSC  "Rīgas Transporta flote" the company LAVINIA

CORPORATION Ltd., registered in Liberia which performed the liabilities

regarding  investments  into the share capital of JSC "Rīgas Transporta

flote",  according  to  the  provisions of the share purchase agreement

concluded  on  January  19,  1996,  with  Privatisation  Agency  and in

accordance  with  the  regulations of the 2nd closed share issue of new

shares  approved  by  the  minutes  of  the  extraordinary shareholders

general  meeting  of  the  JSC "Rīgas Transporta flote" of December 18,

2001,  hereby  announces  that on January 29, 2002, the company LAVINIA

CORPORATION  Ltd. has paid for the new 5.041.080 ordinary voting shares

in  the  total  amount of LVL 5.041.080 in the share capital of the JSC

"Rīgas  Transporta  flote"   by  its  property - the motor vessel "Frio

Pusan".

After  the  acquisition of the new 5.041.080 ordinary voting shares the

company  LAVINIA  CORPORATION  Ltd.  Has  the  ownership  on 17,740,608

ordinary  voting  shares,  and  the number of votes held by the company

LAVINIA  CORPORATION Ltd. In the joint stock company " Rīgas Transporta

flote" is increased from 69.54 to 76.13%.