PIENO ZVAIGZDES

MATERIAL EVENT



SUBSCRIPTION FOR SHARE ISSUE ENDED



On 18 May 2001, subscription for the issue of 9,005,000 shares of  Pieno

Zvaigzdes AB ended. In total, 9,005,000 shares at LTL 1 par were subscribed

and paid.





Romas Matiukas

FBF "Sinkus" Director

(22) 72 34 85