PIENO ZVAIGZDES

MATERIAL EVENT



CONCERNING THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



On the initiative and decision of the company’s Board, on 27 April 2004 at

11 a.m. the Annual General Meeting of Pieno Zvaigzdes AB (enterprise code

2466553, registered office at 125 Laisvės ave., Vilnius) shareholders will be

held at the hotel Karolina at 2 Sausio 13-osios St., Vilnius.

Registration from: 10.00 a.m.

On the agenda:

1. Auditor’s statement on the company’s annual accounts and the Annual Report.

2. Approval of the company’s Annual Report .

3. Approval of the company’s annual accounts.

4. The company’s profit appropriation.

5. Approval of the new wording of the company’s Articles of Association.

6. Acquisition of the company’s own shares.

7. Concerning bank loans and transfer, lease or pledge of the company’s assets.



Registration date of the AGM is 20 April 2004.





Valdas Tekorius

Director General

(+370 5) 246 14 14