ZEMAITIJOS PIENAS

MATERIAL EVENT



LETTER OF INTENT SIGNED



On 9 December 2003, Zemaitijos Pienas AB signed a Letter of Intent with a

well-known Norwegian producer of dairy  products Synnove Finden ASA. This

Letter of Intent provides for cooperation in the field of trade, joint creation

of brand names and a possibility to found a joint venture on the basis of the

Silute subsidiary of Zemaitijos Pienas AB.





Dalia Gecienė

Chief Financier

(+370-444)-22206