MAZEIKIU NAFTA

MATERIAL EVENT



ELECTION OF SUPERVISORY BOARD MEMBERS OF AB MAZEIKIU NAFTA



On 19 June 2002, an extraordinary meeting of shareholders of AB Mazeikiu Nafta

recalled all members of the Supervisory Board of the company and elected the

following new members for a period of 4 (four) years:

Vladas Gagilas – chairman of the Supervisory Board for a period of 1(one) year,

director of Energy Resources Department at the Ministry of Economy of the

Republic of Lithuania;

Members:

Genovaite Gelezeviciene, head of the Analysis and Forecast Division of the

Economy Strategy Department at the Ministry of Economy of the Republic of

Lithuania;

Vytautas Arsauskas, deputy head of Oil Division of Energy Resources Department

at the Ministry of Economy of the Republic of Lithuania;

James Scheel, vice-president of "Global Energy Development" Division of

Williams company;

Craig Jones, chief financier of AB Mazeikiu Nafta;

Robert Maples, deputy chief financier of AB Mazeikiu Nafta;

Vladimir Kasterin, director of “Yukos” oil refining, marketing development, and

technical supervision;

Bruce Misamore, chief financier of “Yukos”;

Pavel Ivlev, attorney of ALM law firm.





Tadas Augustauskas

Head of Communication Unit

(370 93) 92608