JSC Latvijas kuģniecība                  11.02.2005



JSC Latvijas kuģniecība Board of Directors Disclaims 

Responsibility for the Meeting held by JSC Ventspils Nafta

                                                                                        

JSC Latvijas kuģniecība (LASCO) (uniform reg. No. 40003021108, 

legal address: Basteja boulv. 2, Riga, LV-1807) Board of 

Directors hereby repeatedly informs that JSC Latvijas kuģniecība 

Extraordinary General Meeting of Shareholders convened for 

11 February 2005 has been cancelled based on 

JSC Latvijas kuģniecība Board of Directors resolution of 

9 February 2005 passed in consideration of the opinion issued 

by LASCO Supervisory Council. On 11 February 2005 

JSC Ventspils Nafta held its meeting under the title of 

"JSC Latvijas kuģniecība Extraordinary General 

Meeting of Shareholders", thus making an unauthorized use of 

LASCO verbal and graphical brand.



JSC Latvijas kuģniecība Board of Directors has no information on 

the above-mentioned JSC Ventspils Nafta actions, and cannot, 

therefore, assume responsibility for the issues decided at 

JSC Ventspils nafta meeting.



According to LASCO Board of Directors Announcement on the 

cancellation of the GM of shareholders convened for 11 

February 2005, LASCO shares were unblocked by Latvian Central 

Depository on 10 February 2005. Since upon the blocking of 

shares a shareholder ceases to be entitled to vote at the 

GM of shareholders, the persons registered for 

JSC Ventspils nafta meeting are not participants of 

JSC Latvijas kuģniecība Extraordinary General Meeting 

of Shareholders.        







Marita Ozoliņa-Tumanovska

Head of PR departament

Phone: 7020120, 9287169

Fax: 7820239, 

E-mail: ozolina@lsc.riga.lv