Misleading  information about JSC "Rīgas Transporta flote"  published

in the newspaper

On  April  26,  2002  Russian  language  newspaper "Bizness un Baltija"

("Бизнес  &  Балтия")  in  the section "Tirgi un Kompānijas" ("Рынки  &

Компании")  published an article entitled "Transporta Flote operates at

a  loss". The information in the article says that in the first quarter

of  the  year  the  company  has made a profit of LVL 554,957, which is

33.5% less than in the same period of 2001.

Company  Management  Board  believes  that  the  title  contradicts the

information  in  the  article  and  is untrue and misleads the readers,

company  shareholders  and  investors,  and  may  result  in  moral and

tangible  damages  to  the company, since "Rīgas Transporta flote" is a

public company and listed on the Riga Stock Exchange.

In the first quarter of 2002 "Rīgas Transporta flote" has made a profit

of  LVL  554,957. Non-audited profit before tax in 2001 amounted to LVL

166,825.

Company  Management  Board requests that newspaper recalls its previous

publication  and  publishes  information which gives a true view of the

situation.