PIENO ZVAIGZDES

MATERIAL EVENT



RESULTS FROM OPERATIONS FOR THE YEAR 2003



(Unofficial Translation Done at the NSEL)



In 2003, the consolidated preliminary unaudited turnover of the group "Pieno

Zvaigzdes" AB was LTL 374.0 million. In 2003, the consolidated preliminary

unaudited net profit of the group "Pieno Zvaigzdes" AB amounted to LTL 13.1

million. In view of the future competition in the market of the European Union,

in 2003 the group “Pieno Zvaigzdes” AB invested LTL 45.0 million into new

production technologies, the system of sale and distribution and information

technologies.





Valdas Tekorius

Director General

(+370-5) 246 14 14