KN Energies AB

Earnings Release • Mar 3, 2008

Disclosure 256066

Klaipedos Nafta AB - Notification on material event

Operating results during February of the year 2008 and the difference between the reported target and preliminary results

SC KLAIPĖDOS NAFTA operating results during February of the year 2008 : transshipment results- 1416.4thousand tons of oil products from January 1,2008 including 780.9 thousand tons during February; earnings (preliminary)- LTL 20.3 million (EUR 5.9 million),including LTL 10.3 million ( EUR 3.0 mln ) during February. Regarding the difference between the reported target and preliminary results During the year 2007 the Company generated by 21 % greater pre-tax profit if compared to the target profit (of LTL 8,8 mln.) because due to the applied optimal tariff policy the transshipment of oil products, delivered from Russian and Byelorussian Oil Refineries, increased three times, therefore the Company earned by 4 % (LTL 2,7 mln.) more than planned to gain from its main operations. Coordination of operating expenses by the Management of the Company also influenced the increase of the target profit figures. During the year 2007 the Company did not exceed the approved total amount of the expenses of economic - financial activities. While planning its results for the fourth quarter of 2007 the Company did not expect the last three months to be so favourable for transshipment operations, i.e. warm climatic and favourable shipping conditions. Irena Barauskaitė-Gaiziuniene +370 46 391626