KLAIPEDOS NAFTA

MATERIAL EVENT



CONVOCATION OF A GENERAL SHAREHOLDERS’ MEETING



(Unofficial translation done at the NSEL)



At 1 p.m., on 17 December 2002, the extraordinary general shareholders’

meeting will be held upon the decision of the Management Board.

On the agenda:

1) acquisition of claim rights;

2) increase of the company’s authorised capital. It is planned to increase

the company’s authorised capital by LTL 17 million out of additional

contributions, and to grant the right to Naftos Terminalas AB to acquire

shares of the new issue;

3) evocation of the shareholders’ pre-emptive right to acquire shares issued

by the company;

4) granting of the exclusive right to acquire shares of the new issue;

5) amendments to the company’s Articles of Association;

6) approval of the new wording of the Articles of Association;

7) revocation of members of the Council of Observers;

8) election of members of the Council of Observers;

9) election of an audit company.





Dalia Jasadavičiūtė

Senior lawyer

(370 46) 391626