PIENO ZVAIGZDES

MATERIAL EVENT



RESOLUTIONS OF THE GENERAL MEETING OF 24 APRIL 2003



(Unofficial translation done at the NSEL)



The General Meeting convened on 25 March 2003 adopted the following resolutions:

1. To buy up the shares of Pieno Žvaigždės AB, concluding the transactions on

the CM of the Stock Exchange, seeking to stabilize the company’s share rate and

avoid losses caused by a fall in the share rate. To set that the maximum number

of shares being acquired – the nominal value of own shares being acquired

together with other own shares already held might not exceed 1/10 of the

authorized capital. Use further for buying up of own shares the LTL 1 million

of reserve available for distribution approved at the General Meeting of

26 April 2002. The period during which the company may acquire own shares is

18 months.

2. To elect KPMG Lietuva UAB as the company’s auditor for a two-year period.





Julius Kvaraciejus

Chairman of the Board

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