MAZEIKIU NAFTA

MATERIAL EVENT



CEASE OF ACTIVITY OF BUTINGE AND BIRZAI BRANCHES



With a view to forming a single integrated division that would operate more

effectively and would satisfy the needs of the Company, at the meeting of the

Management Board of 31 May 2002 it was decided to terminate activities of

Butinge branch and Birzai Branch of AB Mazeikiu Nafta.





Tadas Augustauskas

Head of communications service

293-92608