JSC  "Ventspils  nafta"  Supervisory  Board  has  received  resignation

letters  form Jānis Ādamsons, Chairman of Management Board, and Ritvars

Priekalns,  Deputy  Chairman  of  Management Board, with the request to

revokethem from the positions starting with September 13. J.Ādamsons is

resigning due to personal reasons, while R.Priekalns is going to take a

top  management  position in JSC "Ventspils nafta" daughter company SIA

"Ventspils  nafta  termināls".  The  changes  in the company Management

Board will by no means affect the operations of the company.



According  to  JSC  "Ventspils  nafta" Charter, only general meeting of

shareholders  has  the  power  to  elect  and revoke the members of the

management  bodies, including Management Board. Management Board has to

pass  a  resolution  about  convening a general meeting of shareholders

with  the  purpose  to  make  changes  in  the  Management  Board.  The

notification  of the meeting will be released as soon as the resolution

has been passed.