PIENO ZVAIGZDES

MATERIAL EVENT



REGARDING THE BUY OUT OF AB PANEVEZIO PIENAS SHARES



On 26 February 2002, the stake of AB Pieno Zvaigzdes in AB Panevezio Pienas

exceeded the threshold  of 50%and comprised 50.44%.

On 26 February 2002, AB Pieno Zvaigzdes submitted a tender offer to the

Lithuanian Securities Commission to buy out all remaining shares of

AB Panevezio Pienas at LTL 2.11 per share.





Romas Matiukas

UAB FMĮ "Sinkus" Director

8 (22) 72 34 85