MAZEIKIU NAFTA

MATERIAL EVENT



MINUTES REGARDING ESTABLISHMENT OF JOINT COMPANIES



On 17 May 2000, a letter of intent was signed between AB Mažeikių Nafta

and the Russian oil concern Lukoil. The Parties agreed to establish joint

enterprises for supply of raw material and for marketing.





Lina Semėnaitė

Information specialist

8(22) 72 18 58