JSC Latvijas kuģniecība (Latvian Shipping Company – LASCO) is closely following the information published by the newspapers the “Biznes & Baltija” (29.08.09) and the “Dienas bizness” (31.08.09), which informed about alleged interest expressed by the State Security Police about the initiative of a Greek-registered legal entity “Atholl Greece Ltd.”, a LASCO shareholder, which questions the merits of some of LSC business transactions and attempts to damage the company reputation. It is unfortunate that until today, July 31st, 2009, Atholl Greece Ltd has not deemed it necessary to contact the company and discuss the matters of interest in a constructive manner but has rather elected to make absolutely false assumptions and allegations thereby misleading the LASCO investors and the public at large.

It needs to be noted, that the LASCO is not aware of any information, which would support the claims made by the media about any alleged law enforcement interest in the matter.

Taking into account, that the initiatives carried out by “Atholl Greece Ltd.” need to be seen in close context with the successful efforts of LASCO management to uncover the ship charter fraud schemes, which, over a number of years, allowed a group of persons to defraud the company of some 30 – 40 USD million, LASCO would welcome any law enforcement interest about “Atholl Greece Ltd.”, the origins of this legal entity, its true intentions and representatives.

 
For more detailed information:
Marita Ozoliņa-Tumanovska
Manager of PR & Advertising Department
Telephone +371-67020120, 29287169
marita.ozolina@lscgroup.lv