ZEMAITIJOS PIENAS

MATERIAL EVENT



CONCERNING ACQUISITION OF KELMES PIENINE AB SHARES



(Unofficial Translation Done at the NSEL)



The Board of Zemaitijos Pienas AB, acting on the information received from the

Competition Council of Lithuania, i.e. Resolution No 1S-5 as of 9 January 2004,

held a meeting of the Board to discuss the feasibility and expediency of

acquisition of the controlling interest in Kelmes Pienine AB and decided to

file an application with the Competition Council concerning the permit to

acquire 100% of Kelmes Pienine AB shares.





Dalia Geciene

Chief Financier

(+370- 444) 22206