JSC  "Liepajas  metalurgs" on the March 3 signed agreement with Latvian

Privatisation  Agency  regarding management of shipyard "TOSMARE" state

property.

Mutually   favourable  draft  of  co-operation  agreement  between  JSC

"Liepajas  metalurgs" and shipyard "TOSMARE" is being prepared and will

address:

1. To increase and develop fields of activities:

· Repair of ships;

· Stevedore services · Metal-working.

2. To arrange property issues and further process of privatisation.

Shipyard  "TOSMARE" in the 1996 was given by Ministry of Finance to the

administration  of  Latvian  Privatisation Agency. It is located in the

territory of Liepaja SEZ and occupies 38 ha. There are six landings and

two dry docks are used for ship repairs.