JSC "Latvijas kuģniecība" has signed settlement agreements with Svens Zālītis, former Supervisory Council member of JSC "Latvijas kuģniecība", in respect of termination of all mutual litigation processes. The contents of these settlement agreements are confidential.

About JSC “Latvian Shipping Company”

JSC “Latvian Shipping Company” (Nasdaq Riga: LSC1R) is vessel owner in the segment of medium and handy size tankers. The company owns 16 modern vessels employing more than 1300 professional and high-skilled seamen from Latvia. Besides, LSC subsidiary “LSC Ship management” Ltd is technically serving 9 more vessels, thus managing a fleet of 25 vessels. The average age of the LSC fleet is 9 years. All of the vessels have received ISM (International Safety Management) certificates.

         Artis Ozolins, Communications Consultant
         JSC “Latvian Shipping Company”
         Telephone: +371-26179051
         E-mail: AOzolins@Golin.com
         www.lk.lv