Latvijas Gaze

Earnings Release • Nov 3, 2009

Predictions of results of the company’s financial activity

In the last quarter of 2009, it was planned to increase the natural gas tariffs in order to compensate the unearned income, which occurred at the beginning of the year after the decision of the Public Utility Commission not to increase the natural gas tariffs in February, March and April, avoiding additional price pressure on the state economy in early 2009. Following a request by the Public Utility Commission, the JSC “Latvijas Gāze” has conceded the compensation of the unearned income in the last quarter, thus keeping low tariffs for the heating season 2009-2010.

Overall, the amount of unearned income reaches 6 million LVL. However, it will not significantly affect the company’s planned annual profit, as the Joint Stock Company “Latvijas Gāze” has taken measures of lowering its operational costs and optimizing its functions.

Vinsents Makaris

Phone: + (371) 67 369 144

E-mail: IR@lg.lv