MAZEIKIU NAFTA

MATERIAL EVENT



APPOINTMENT OF THE NEW DIRECTOR GENERAL OF AB MAZEIKIU NAFTA



1. At the meeting of the Management Board of 31 May 2002, it was decided to

terminate work contract with James E. and to dismiss him from the position of

the director general from 31 May 2002.

2. Thomas A. Schneider, member of the Management Board, was appointed the

company’s Director General;

3. Thomas A. Schneider, current deputy director general for oil processing and

marketing, to take the position of director general at interim until either a

new contract is signed or the effective work contract is amended

correspondingly.





Tadas Augustauskas

Head of communications service

293-92608