MAZEIKIU NAFTA

MATERIAL EVENT



PRESS RELEASE OF YUKOS AND WILLIAMS DATED 20 AUGUST 2002



Mazeikiu Nafta has just received information that today Yukos and Williams

announced their press release concerning the agreement between Williams and

Yukos. It is stated that the daughter company of Yukos will acquire a block of

shares of Mazeikiu Nafta AB, owned by Wiliams International Company, for USD 85

million and take over the management of Mazeikiu Nafta AB.





Tadas Augustauskas

Head of Communications Service

293 92608