PANEVEZIO PIENAS

MATERIAL EVENT



GENERAL SHAREHOLDERS’ MEETING BEING CONVENED ON 19 DECEMBER 2003



(Unofficial translation done at the NSEL)



Upon the initiative and resolution of the Company’s Board, an extraordinary

general shareholders’ meeting of Panevezio Pienas AB is being convened on

19 December 2003, which will take place at the Company’s office at 9 Tinklu St.

in Panevezys. Registration starts at 10.30 a.m. On the agenda:

1.Concerning sale, transfer, lease or pledge of long-term and other types of

assets.





Voldemaras Klovas

Deputy Chairman of the Board

(+370-698) 39 727