MAZEIKIU NAFTA

MATERIAL EVENT



SALE OF A 26.85% BLOCK OF SHARES OF MAZEIKIU NAFTA AB



On 19 September 2002, Yukos Finance B.V. and Williams International Company

signed a set of agreements according to which Yukos Finance B.V. additionally

acquired 189,959,206 ORS of Mazeikiu Nafta AB, took over management rights of

Mazeikiu Nafta AB according to the management agreement as of 29 October 1999

and creditor’s rights according to the loan agreement as of 29 October 1999

(including later amendments). After this transaction Yukos Finance B.V. owns

53.7% of ORS of Mazeikiu Nafta AB>





Tadas Augustauskas

Head of Communications Service

293 92608