MAZEIKIU NAFTA

MATERIAL EVENT



CONVOCATION OF A GENERAL SHAREHOLDERS' MEETING



On 10  March, 2000 the sitting of the Board of AB Mažeikių Nafta decided:

1) to hold the general shareholders' meeting at 12am, on 14 April, 2000 at the

cultural centre of AB Mažeikių Nafta, at 11  Naftininkų St.,in Mažeikiai.

2) to approve draft agenda of the general shareholder's meeting:

2.1 report of the Board of AB  Mažeikių Nafta on company's activity during the

economic year,covering the period from January 1, 1999 until December 31.

2.2 report of the  auditor on company's financial statements for the economic

year, covering the period from January 1, 1999 until December 31.

2.3 approval of financial statements of AB Mažeikių Nafta for the economic

year,covering the period from January 1, 1999 until December 31.

2.4 distribution of net profit (loss) of AB Mažeikių Nafta.

2.5 election of an auditor of AB Mažeikių Nafta and determination of the

compensation scheme for audit services.





Lina Semėnaitė

Information specialist

(22) 72 18 58