KN Energies AB — Earnings Release 2008

Aug 27, 2008

Disclosure 261412

Klaipedos Nafta AB - Notification on material event

SC “Klaipėdos nafta” results of the activities of the first half of the year 2008

SC “Klaipėdos nafta” results of the activities of the first half of the year 2008: SC “Klaipėdos nafta” at the first half of the year 2008 received income of 65,6 million LTL or 19,0 million EUR. During the first half of the year 2008 was received profit of 24,4 million LTL or 7,1 million EUR before taxes. Successful results of the activities of the first half of the year 2008 were conditioned by the renewed load of SC "Mažeikių nafta” and increased transportation of oil products from Russian and Byelorussian factories according to made long-term agreements. During the first half of the year 2008 were refilled 50% more oil products, than it was in the corresponding period of the last year (load of the first half of the year 2008 was - 4,43 million tones, load of the first half of the year 2007 was - 2,94 million tones). According to the loan return schedule during the first half of the year 2008 were returned loans of 7,8 million LTL (2,26 million EUR) and paid interests of 0,68 million LTL (0,196 million EUR). Irena Barauskaitė-Gaižiūnienė +370 46 391626