ZEMAITIJOS PIENAS

MATERIAL EVENT



CONCERNING PROPOSAL OF THE BOARD TO PAY DIVIDEND



(Unofficial Translation Done at the NSEL)



The Board of Zemaitijos Pienas AB meeting held on 19 April 2004 passed the

resolution to propose to the Annual General Meeting of the company’s

shareholders to pay dividend to its shareholders in the amount of LTL 0.15

instead of the foreseen LTL 0.35 per one ordinary registered share of LTL 10

nominal value.





Dalia Geciene

Chief Financier

(+370-444) 22206