Klaipedos Nafta AB - Notification on material event

Notice of extraordinary general meeting of shareholders of AB OF KLAIPĖDOS NAFTA

We hereby give notice that on the initiative and by the decision of the Board
of the Company an extraordinary general meeting of shareholders of AB Klaipėdos
Nafta will be convened on 26 of March 2012 at 13.00 p.m. he meeting will be
held in the registered office of the Company at Burių 19, Klaipėda, in the
premises of the Administration. 

Agenda of the meeting:

1. On the approval of the decision of the Board of AB Klaipėdos Nafta to
continue the implementation of the LNG terminal project and to conclude a
contract with the winner of the public procurement tender “Acquisition of a
Floating Liquefied Natural Gas Storage and Regasification Unit”. 

2. On the amendment of the Articles of Association of AB Klaipėdos Nafta.

The shareholders will be registered from 12.00 p.m. to 12.50 p.m. The persons
intending to participate in the meeting shall have a personal ID document (an
authorised representative shall have a proxy approved under the established
procedure. The natural person's proxy shall be notarised. A proxy issued in a
foreign state shall be translated to the Lithuanian language and legalised
under the procedure prescribed by laws). 

A shareholder or his proxy shall have the right to vote in writing in advance
by filling in a general ballot paper. At the request of the shareholder, at
least 10 days before the meeting, the company shall send a general ballot paper
by registered mail free of charge. The filled-in general ballot paper and the
document attesting the right to vote shall be submitted to the company no later
than the last business day before the meeting, sending both documents by
registered mail at the address of the registered office of the company
indicated in the notice. 

The shareholders who hold shares carrying at least 1/20 of all the votes may
propose supplements to the agenda of the general meeting of shareholders by
submitting with every proposed additional item a draft decision of the general
meeting of shareholders or, when a decision needs not to be adopted, the
shareholder's explanation. Proposals on supplementing the agenda shall be
submitted in writing or sent by e-mail. Written proposals shall be submitted to
the Company on business days or sent by registered mail at the address of the
registered office of the company indicated in the notice. Proposals submitted
by e-mail shall be sent to the following e-mail: i.barauskaite@oil.lt. The
agenda shall be supplemented if the proposal has been received no later than 14
days before the extraordinary general meeting of shareholders. If the agenda of
the general meeting of shareholders is supplemented, the Company shall notify
of the supplements no later than 10 days before the meeting in the same ways as
in the case of convocation of the meeting. 

The shareholders, who hold shares carrying at least 1/20 of all the votes, at
any time before the general meeting of shareholders or in the meeting, may
propose new draft decisions on the items which are or will be put on the agenda
of the meeting. The proposals may be submitted in writing or sent by e-mail.
Written proposals shall be submitted to the Company on business days or sent by
registered mail at the address of the registered office of the company
indicated in the notice. Proposals submitted by e-mail shall be sent to the
following e-mail: i.barauskaite@oil.lt. 

The shareholders shall have the right to submit to the company in advance
written questions relating to the items on the agenda of the meeting. The
shareholders may submit their written questions to the Company on business days
or sent by registered mail at the address of the registered office of the
company indicated in the notice no later than 3 business days before the
meeting. The company will reply to the questions by e-mail or in writing before
the meeting, except the questions which are related to commercial secret or
confidential information of the company or have been submitted later than 3
business days before the meeting. 

The company does not provide the possibility of participating and voting at the
meeting by means of electronic communications. 

Every shareholder shall have the right under the procedure prescribed by laws
to authorise another person (natural or legal) to participate and vote on his
behalf in the meeting. In the meeting, the proxy shall enjoy the same rights as
the represented shareholder would enjoy, unless the proxy issued to the
attorney or laws provide for narrower rights of the proxy. Shareholder shall
also have the right to authorize through electronic communication channels
another person (natural or legal) to participate and vote in the Meeting on
shareholder's behalf. Such authorization shall not be confirmed by the notary
officer. The power of attorney issued through electronic communication channels
must be confirmed by the shareholder with a safe electronic signature developed
by safe signature equipment and approved by a qualified certificate effective
in the Republic of Lithuania. The shareholder shall inform the Company on the
power of attorney issued through electronic communication channels by e-mail:
i.barauskaite@oil.lt no later than the last business day before the meeting at
2:00 p.m. The power of attorney and notification shall be issued in writing.
The power of attorney and notification to the Company shall be signed with the
Electronic Signature but not the letters sent via the e-mail. By submitting the
notification to the Company the shareholder shall include the Internet address
from which it would be possible to download free of charge software to verify
an Electronic Signature of the shareholder. 

The record date of the meeting shall be 19 03 2012 (only those persons who will
be shareholders of the company at the close of the record date of the
Extraordinary General Meeting of Shareholders or their authorised persons, or
persons with whom an agreement on assignment of the voting right has been
executed may participate and vote at the Extraordinary General Meeting of
Shareholders). 

The record date of the rights of shareholders shall be  10 04 2012 (the persons
who were shareholders of the company at the close of the tenth business day
after the General Meeting of Shareholders that adopted the relevant decision
may enjoy property rights). 

The shareholders of the Company may familiarise with draft decisions and
supporting material of the meeting, the form of the general ballot paper under
the procedure prescribed by laws in the registered office of the Company at
Burių g. 19, Klaipėda, legal entity code 110648893, (tel.: 8-46 391636) or on
the Company's website at http://www.oil.lt 


         Mantas Bartuška, Finance Director, 8 46 391 763