Regarding the publicity in the news paper Telegraf.

Rigas kugu buvetava 

17.05.2012 10:52

Dissemination of a Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Regarding the publicity in the news paper Telegraf.

http://www.telegraf.lv/news/rfb-mai-investor-otdyhai



The Board of JSC 'Rīgas kuģu būvētava' announces that the author of the article
has given incomplete and non approved information. 



There is going on the assembly of the platform in Singapore. Before the
transportation three columns (leg) on which the device is raising itself up and
letting down to take the position necessary, are cut off. The length of these
columns (legs) is aprx. 158m the height of the device is 95m and the width is
70m. The columns (leg) are cut into several sections, to make it possible to
enter in the Black sea, there is a necessity to pass under the bridge in the
Bosphorus, where the maximum height is 70m and from the view of safety, the
allowed height of the fright must not exceed 58m. At the port of Black Sea the
columns (legs) will be renewed by welding the cut sections just like the
project foresees. 

The delivery contract foresees the equipment of the platform with the logs,
cement and other devices, as well as delivery of helicopter to provide human
rescue and transportation possibilities, as during the work of the platform it
can be 150-200km from the shore depending on oilfield. Regarding the insulation
it has been done at the plant in Singapore. 

It will be equipped in Singapore completely with installations, devices and
mechanisms, which are supplied from all over the world 

Regarding the profit of the enterprise in 2012.

Despite the enterprise is involved in several major resource projects,
including the oil platform delivery project, the Board forecasts that there is
going to be profit in year 2012. To foresee the amount of the profit is
impossible at the moment.
News Source: NASDAQ OMX



17.05.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Rigas kugu buvetava
              
               
              Latvia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         LV0000100378
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------