Limarko Laivininkystes Kompanija AB - Notification on material event

Regarding the appointment of a new Managing Director

On 29th June 2012 the Board of Limarko laivininkystes kompanija AB appointed
Mr. Mindaugas Petrauskas as the head of administration of the Company. As from
2nd July 2012 he will become the Managing Director of the Company. 

Mr. Vytautas Lygnugaris, the longstanding CEO of the Company, shall remain the
Chairman of the Board of the Company and shall head the parent company Limarko
UAB. The change is made with a view to implement the best practices of
corporate governance, where different persons are appointed to the positions of
the Chairman of the Board and the Managing Director. 

Mr. Mindaugas Petrauskas has been working in Limarko Group since 2004. Before
the current appointment he was the Vicepresident of the Company. He is a lawyer
by education and has gained maritime law and shipmanagement knowledge in the
United Kingdom. According to the Chairman of the Board, Mr. Vytautas Lygnugaris
“The experience gained and accumulated by Mindaugas Petrauskas will prove
valuable to the Company”. 


         Vytautas Lygnugaris
         Chairman of the Board
         Tel. +370 46 340001 (ext. 713)