PIENO ZVAIGZDES

MATERIAL EVENT



ACQUISITION AND TRANSFER OF SHARES



(Unofficial Translation Done at the NSEL)



On 26 March 2004, Pieno Zvaigzdes AB transfered 10.97% of Zemaitijos Pienas AB

shares and additionally acquired 33.33% of Panevezio Pienas AB. Together with

the shares held by Pieno Zvaigzdes AB before, they constitute a 97.53% holding

of the authorised capital and votes in Panevezio Pienas AB.





Valdas Tekorius

Director General

(+370-5) 246 14 14