Klaipedos Nafta AB: SC Klaipedos nafta has signed the agreement with SOMITEKNO Ltd. (amended)

On 14 September 2010 SC Klaipedos nafta (hereinafter - the Company) has signed oil and oil products transshipment services agreement with Somitekno Ltd (hereinafter - the Customer). According to the above mentioned agreement both parties have agreed on the vacuum gasoil transshipment services at the Company's terminal during period September 2010 to August 2011 setting the minimal volume of oil products to be transshipped during this period. Parties also agreed that if during the calendar month the Customer will not supply minimal contractual volume of the product it will compensate the Company according to the agreement, however if during the calendar month the Company will not transship minimal contractual volume of the product it will compensate the Customer accordingly.

This contract has been signed between parties after the Company has obtained proposals from interested parties for vacuum gasoil transshipment and has chosen the Customer due to the most beneficial terms proposed.

For the transshipment of oil product the Company will use the terminal capacities, which previously were used for oil products transshipment under the contract with UAB "Naftos grupe". Currently, the Company is proceeding with the termination of UAB Naftos grupe contract, which according to the Company illegally includes exclusivity clause for vacuum gasoil transshipment.

The Company expects that new contract will ebable it to increase its revenue by 4 - 9 million Litas compared to the previous contract with UAB "Naftos grupe".

Chief Financier Johana Bučiene 8 46 391 636