Mazeikiu Nafta Shareholders Meeting Approves Distribution of Profit

29-04-2005  News

MAZEIKIAI — Today Mazeikiu Nafta’s Shareholders Meeting has approved the company’s financial results and business report for 2004.

The company earned 721.883 million Litas (261.103 million US dollars) of audited consolidated net profit in 2004 according to US Generally Accepted Accounting Principles (US GAAP).

Shareholders Meeting approved the following distribution of profit for the financial year 2004: to transfer 34,782,345.00 Litas of net profit to legal reserves, to pay 247,608,946.00 Litas for dividends and to carry forward the profit balance at the end of the current financial year.

Date: April 29, 2004
Giedrius Karsokas
AB Mazeikiu Nafta
tel. +370 610 65298
fax +370 443 92579

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