Klaipedos Nafta AB - Notification on material event

Regarding the decision of the Board of AB Klaipėdos Nafta to enter into the Agreement on the Margin Payment and Mortgage of Property with the Ministry of Finance

In connection with the performance of conditions precedent for the Ministry of
Finance of the Republic of Lithuania (hereinafter - the Ministry of Finance) to
sign a state guarantee agreement (in the amount of EUR 81,093,605) with the
European Investment Bank (hereinafter - EIB), which will serve as guarantee for
the obligations of AB Klaipėdos Nafta (hereinafter - the Company) to EIB under
the Credit Agreement (hereinafter - the Credit Agreement) on the co-financing
of the Liquefied Natural Gas Terminal (hereinafter - LNGT) project concluded
with EIB on 9 July 2013, on 11 November 2013 the Board of the Company inter
alia took the following decisions: 

1. To conclude with the Ministry of Finance an Agreement on the Margin Payment
and Mortgage of Property by making to it a margin payment in the amount of EUR
81,093.61. 

2. To mortgage for the benefit of the Ministry of Finance (the State) inter
alia all the future property that will be created during the LNGT project and
which will be owned by the Company upon implementation and completion of the
LNGT project. In connection with that, to conclude with the Ministry of Finance
a Maximum Conditional and Ordinary Mortgage Agreement (in the amount of EUR
81,093,605). 

3. To determine that the Company may conclude the documents mentioned in items
1 and 2 above and perform other necessary actions as well as make the margin
payment specified in item 1 above only after receiving a confirmation from the
European Commission that the state guarantee granted to EIB is not considered
state aid under the Treaty on the Functioning of the European Union or is
considered state aid compatible with the internal market under the Treaty. 

4. To determine that all these decisions of the Board will enter into full
force only after they are approved by the General Meeting of Shareholders of
the Company, as provided for in Article 16.10 of the Articles of Association of
the Company. 

The Board also decided to convene the extraordinary General Meeting of
Shareholders of the Company on these issues to be held on 4 December 2013 at
1:00 p.m. at its registered office Burių St. 19, LT-91003 Klaipėda, Lithuania.
A separate notification on material event will be given to inform about this
General Meeting. 

Other material provisions of the Credit Agreement and the Company's obligations
thereunder are provided in the Company's notification on material event of 2
July 2013. 


         Director of Finance and Administration Department, Mantas Bartuška,
+370 46 391 763