ZEMAITIJOS PIENAS

MATERIAL EVENT



CONVOCATION OF A GENERAL SHAREHOLDERS’ MEETING



At 3 p.m. on 4 May 2001, a general shareholders’ meeting will take place at

35 Sedos St., in Telšiai.

On the agenda:

1) buying up of its own shares pursuant to paragraph 1.1 of Article 46 of

the Company Law of the Republic of Lithuania by establishing that up to 10%

of shares will be bought up, at up to LTL 20 per share.





Asta Kiguolienė

Chairman of Supervisory Board

294-22265