Pieno Zvaigzdes AB

Company event



Concerning decisions passed by the Board



The Board meeting of Pieno Zvaigzdes AB passed the following decisions on 30

August 2004:

1. To approve the terms of reorganisation of Pieno Zvaigzdes AB and Panevezio

Pienas AB;

2. To place one public announcement on the terms of reorganisation of Pieno

Zvaigzdes AB and Panevezio Pienas AB  in the daily paper “Lietuvos Rytas”,as

referred to in the Articles of Association of the company, and notify in writing

all the creditors.

3. On the initiative and decision of the Board to convene an extraordinary

meeting of shareholders of Pieno Zvaigzdes AB (company code 2466553, address of

the headquarters Laisves pr. 125, Vilnius), which will take place on 4 October

2004 at 1:00 p.m. at the headquarters of the company Laisves pr. 125, Vilnius.

Registration of shareholders will start at 12:30 p.m.

Agenda of the meeting:

1) Adoption of decision concerning reorganisation of Pieno Zaigzdes AB and

Panevezio Pienas AB (by way of merger of the companies whereby Pieno Zaigzdes AB

acquires Panevezio Pienas AB);

2) Approval of the terms of reorganisation of Pieno Zvaigzdes AB and Panevezio

Pienas AB;

3) Approval of the amended Articles of Association of Pieno Zvaigzdes AB, which

is going to continue its activities after reorganisation;

4) Granting of authorisation.

The recording day of the meeting is 27 September 2004.

4. To approve draft decisions of GMS. The terms of reorganisation and draft

decisions of GMS will be available for scrutiny in the headquarters of Pieno

Zvaigzdes AB Laisves pr. 125, Vilnius since 3 September 2004.





Voldemaras Klovas

Acting Director General

(+370 5) 246 14 14