Limarko Laivininkystes Kompanija AB - Interim information

Unaudited operational results for the year 2011

The unaudited results for the year 2011 of Limarko laivininkystės kompanija AB
(LLK) were prepared in accordance with International Financial Reporting
Standards. 

The revenue of LLK for the year 2011 amounted to LTL 86.7 million (EUR 25.1
million) and decreased by 30% when compared to the revenue of LTL 123.8 million
(EUR 35.8 million) for the year 2010. 

During the twelve months of 2011 LLK achieved the EBITDA (before impairment of
vessels) of LTL 7.4 million (EUR 2.1 million) and the EBITDA margin was 9%. In
2010, the EBITDA was LTL 15.3 million (EUR 4.4 million) and the EBITDA margin
was 12%. 

The losses (after impairment of vessels) of LLK in 2011 amounted to LTL 44.4
million (EUR 12.8 million). The losses of LLK for January - December of 2010
were LTL 30.8 million (EUR 8.9 million). 

The results for 2011 of LLK were mainly influenced by:

  -- high bunker prices;
  -- decreasing freight rates;
  -- increasing competition from the container vessel segment in the market of
     reefer cargo transportation;
  -- impairment of vessels.


         Vytautas Lygnugaris
         Chief Executive Officer
         Tel. +370 46 340001 ext. 713

Attachments:

2011 interim financial statements.pdf