MAZEIKIU NAFTA

MATERIAL EVENT



CONCLUSION OF INVESTMENT AGREEMENT WITH UAB UOTAS



On 19 March 2002, the investment agreement, signed on 27 February 2002 between

AB Mazeikiu Nafta, UAB Uotas and two shareholders of UAB Uotas, namely, Sergej

Tuguši ir Vitalija Kroliene, came into force. UAB Uotas issued 52,480 ordinary

registered shares of UAB Uotas with par value of LTL 1,000 each. AB Mazeikiu

Nafta subscribed to 49,980 new shares which will account for 85% of all UAB

Uotas shares after registration of the authorized capital of UAB Uotas.





Tadas Augustauskas

Head of Communication Service

293-92608