Klaipedos Nafta AB - Notification on material event

On the Establishment of the New Subsidiary

Klaipėdos Nafta, AB (hereinafter, the “Company”) hereby informs that on 17
December 2012 it has established and registered a new subsidiary - a closed
stock company - LitGas, UAB, which, as foreseen, shall execute the activities
of trade and/ or supply of the liquefied natural gas. The Company owns 100
percent of shares of LitGas, UAB. The authorised capital at the amount of LTL 1
million of LitGas, UAB has been formed by monetary contribution of the Company. 

LitGas, UAB has been established under the decision of 16 November 2012 of the
Board of the Company to establish a closed stock company - Dujų tiekimas, UAB.
Due to the fact that the new subsidiary in its activities shall mostly deal
with foreign companies, the title “Dujų tiekimas”, UAB has been amended to
LitGas, UAB by the decision of 6 December 2012 of the Board of the Company. 

For the start-up period the following members of the Board of the Company have
been elected the Board members of LitGas, UAB: Inga Černiuk, Mindaugas Jusius,
Rytis Ambrazevičius, Rokas Masiulis and Arvydas Darulis. The General Manager of
the Company Rokas Masiulis has been elected as the General Manager of LitGas,
UAB. 

The anticipated activities of supply of the liquefied natural gas shall be
started to be executed by LitGas, UAB as from the commencement of the
activities of the liquefied natural gas terminal, following performance of the
requirements, set under the legal acts. 


         Mantas Bartuška, Finance Director, +370 46 391 763