Latvijas kuģniecība                                    02.12.2004.



JSC "Latvijas kuģniecība" SOLD A PRODUCT TANKER GAIDA





Hereby JSC Latvijas kuģniecība (Latvian Shipping Company - LASCO) informs 

that today, 1 December 2004, the Company disposed of its product tanker Gaida.

The vessel was sold pursuant to the Regulation On the Procedure of the 

Disposal of JSC Latvijas kuģniecība vessels, approved by the Company's 

Supervisory Council.



The decision on m/t Gaida sale was made considering the EU phase-out program 

for single-hull tankers and the vessel’s limited trading life.   



LASCO Management Board resolution on the sale of m/t Gaida was approved by 

the Company’s Supervisory Council on 19 May 2004.