JSC  "Ventspils  nafta"  shareholders  general  meeting  on the January

21,1999

approved budget for the 1999:

1) Planned financial results LVL 48,2 million;

2) Planned net profit LVL 15,6 million;

3) Planned following distribution of net profit:

n  dividends for the financial results of the 1999 LVL 2,3 million (15%

from net profit);

n  reserve  for  the  implementation  of  investment  programs LVL 13,3

million