MAZEIKIU NAFTA

MATERIAL EVENT



DECISIONS OF THE ORDINARY GENERAL MEETING OF SHAREHOLDERS HELD ON 30 APRIL 2004



1. To take into consideration AB Mazeikiu Nafta Auditor’s

reports when approving AB Mazeikiu Nafta financial statements

for the year 2003 and AB Mazeikiu Nafta Performance Report

during the financial year 2003.

2. To take into consideration suggestions and comments of AB

Mazeikiu Nafta Supervisory Council on AB Mazeikiu Nafta Financial

Statements for the year 2003 and AB Mazeikiu Nafta Performance

Report during the financial year 2003.

3. To approve AB Mazeikiu Nafta Performance Report during the

financial year 2003 prepared by the Board of the Company.

4. To approve AB Mazeikiu Nafta Financial Statements for the

year 2003.

5. To approve distribution of AB Mazeikiu Nafta profit (losses)

for the year 2003.

6.1. To approve the amended Articles of Association of AB Mazeikiu

Nafta.

6.2. To obligate the General Director of the Company to register

the amended Articles of Association of AB Mazeikiu nafta, prepare,

sign and submit to the Register of Legal Entities and/or other

entities or institutions all and any necessary documents and

perform any actions related thereto.

7. To approve payment conditions for the audit services to be

rendered in 2004 by AB Mazeikiu Nafta Auditor -

UAB PricewaterhouseCoopers by establishing that the Auditor’s

fee may not exceed 660,000 (six hundred thousand) litas without

VAT.

8. Taking into consideration the fact that Mr. Mikhail V. Elfimov,

member of the Supervisory Council of AB Mazeikiu Nafta, resigned

from the Supervisory Council of AB Mazeikiu Nafta, in accordance

with Part 11 of Article 31 of the Company Law of the Republic of

Lithuania, to elect a new member of the Supervisory Council of AB

Mazeikiu Nafta, proposed by the persons entitled to suggest nominees

to the Supervisory Council of the Company, until the expiry of the

term of the Supervisory Council of AB Mazeikiu Nafta acting on the

day of this General Meeting of Shareholders.





Giedrius Karsokas

Head of Communications Department

8 443 92608