MAZEIKIU NAFTA

MATERIAL EVENT



ELECTION OF THE MANAGEMENT BOARD OF MAZEIKIU NAFTA AB



On 21 September 2002, at the meeting of the Council of Observers of

Mazeikiu Nafta AB it was decided to revoke all members of

the Management Board of Mazeikiu Nafta AB and to elect the following

persons members of the Management Board of Mazeikiu Nafta AB for

a four-year period: Michail B. Brudno, Frank K. Rieger,

Nerijus Eidukevicius, Kipras Balkevicius, Gediminas Vaiciunas, Kalner J.V.,

and Kalinin A.M.





Tadas Augustauskas

Head of the communications service

293-92608