JSC  "Ventspils  nafta"  has  founded  a  daughter company SIA"Darījumu

centrs Daugava":

  * SIA"Darījumu centrs Daugava" Charter was approved by JSC "Ventspils

    nafta"  Management  Board  resolution  of  December  2,  2002,  and

    registered on December 5, 2002

  * Share  capital  is  LVL 2000, built of 20 shares with nominal value

    LVL 100 each

  *  "Ventspils  nafta"  will  own  20  shares  or 100% of SIA"Darījumu

    centrs Daugava",

  * the  purpose  of  founding  the company is property acquisition and

    management at Balasta dambis 3

  * financial  statements  of the daughter company will be consolidated

    with "Ventspils nafta" financial statements starting with 2002,

  *  the effect of the foundation of the daughter company on "Ventspils

    nafta" financial performance for 2002 will be immaterial,

  * the  economic and business effects of founding the daughter company

    are associated with property management at Balasta dambis 3

  * address of SIA"Darījumu centrs Daugava" is Balasta dambis 3, Riga

  * executive director is Vilis Miesnieks.



Persons  with  the  mandate  to  offer explanations: Ritvars Priekalns,

phone 36 66334.

JSC  "Ventspils  nafta"  has  founded  a  daughter company uzņēmumu SIA

"Nekustamie īpašumi VN":

  *  SIA "Nekustamie īpašumi VN" Charter was approved by JSC "Ventspils

    nafta"  Management  Board  resolution  of  December  2,  2002,  and

    registered on December 5, 2002

  *  Share  capital  is  LVL  20,000,  built of 200 shares with nominal

    value LVL 100 each

  *  "Ventspils  nafta"  will own 200 shares or 100% of SIA "Nekustamie

    īpašumi VN",

  *  the  purpose  of  founding  the  company  is JSC "Ventspils nafta"

    property management and maintenance

  *  financial  statements of the daughter company will be consolidated

    with "Ventspils nafta" financial statements starting with 2002,

  *  the effect of the foundation of the daughter company on "Ventspils

    nafta" financial performance for 2002 will be immaterial,

  *  the economic and business effects of founding the daughter company

    are associated with "Ventspils nafta" owned real estate development

    and property management, consolidated in a business unit

  * address of SIA "Nekustamie īpašumi VN" is Balasta dambis 3, Riga

  * executive director is Renārs Urbanovičs.



Persons  with  the  mandate  to  offer explanations: Ritvars Priekalns,

phone 36 66334.