PIENO ZVAIGZDES

MATERIAL EVENT



GENERAL MEETING OF SHAREHOLDERS CONVENED ON 25 APRIL 2003



(Unofficial translation done at the NSEL)



By initiative of the company’s Board, a general meeting of the shareholders

of Pieno Žvaigždės AB will be held from 11 am, on 25 April 2003 at  Karolina

hotel, Sausio 13-osios st. 2, Vilnius.

Registration starts at 10 am.

Agenda includes:

1. Auditor’s conclusion concerning the company’s 2002 financial statements and

its activity.

2. Approval of the company’s activity report.

3. Approval of the company’s annual financial statements.

4. Approval of the 2002 profit (loss) distribution report.

5. The company’s buying up of its own shares and formation of reserve for their

purchasing.

6. Election of an auditor and settlement of remuneration.

7. Approval of the new version of the company’s by-laws.

8. Concerning taking a credit and backing liabilities to the bank.





Valdas Tekorius

Administration head

(370-5) 248 15 25