Klaipedos Nafta - Notification on material event

AB Klaipėdos Nafta concluded with the Ministry of Finance the Agreement on the Margin Payment and Mortgage of Property as well as the Maximum Conditional and Ordinary Mortgage Agreement

On 29 December 2014 AB Klaipėdos Nafta (hereinafter - the Company) and the
Ministry of Finance of the Republic of Lithuania concluded an Agreement on the
Margin Payment and Mortgage of Property as well as a Maximum Conditional and
Ordinary Mortgage Agreement (hereinafter together - the Agreements). 

Under the Agreements the Company undertook to make to the Ministry of Finance
of the Republic of Lithuania margin payment in the amount of EUR 34,754.40 and
to create second rank mortgage for the benefit of the State, inter alia, all
the property created and/or acquired during the implementation of Liquefied
Natural Gas Terminal (hereinafter - LNGT) project (the amount of maximum
mortgage is equal to EUR 34,754,402). 

As it was announced by the Company in its notification on material event of 8
July 2014, the Maximum Conditional and Ordinary Mortgage Agreement serves as
condition precedent to issue a guarantee to Nordic Investment Bank, securing
the undertakings of the Company to the Nordic Investment Bank under the Credit
Agreement executed on 27 November 2014 (see notification on material event of
27 November 2014). 


         Marius Pulkauninkas, Director of Finance and Administration
Department, tel.: +370 46 391 763