ZEMAITIJOS PIENAS

MATERIAL EVENT



DECISIONS ADOPTED AT THE GENERAL SHAREHOLDERS’ MEETING



On 18 May 2001, the repeated extraordinary shareholders’ meeting took place.

At the meeting it was decided to:

1) to buy up up to 10% of Zemaitijos Pienas AB shares pursuant

to paragraph 1.1, of article 46 of the Company Law;

2) authorise the Board to execute this resolution and perform

all necessary actions;

3) authorise the Board to select the financial brokerage company until

1 June 2001 and conclude and agreement with it. Authorise Chairman

of the Board , Director General Algirdas Pazameckas to sign an

agreement with the selected financial brokerage company.





Dalia  Gecienė

Chief financier

8-294-22206