ZEMAITIJOS PIENAS

MATERIAL EVENT



REGARDING BUY-UP OF OWN SHARES



Following the decision of the general shareholders’ meeting as of 18 May 2001

regarding buying up of up to 10% of own shares and having selected the

financial brokerage company, the Management Board of the company decided to

establish a fixed price for buying up of shares in 2001 in order to avoid

possible manipulation with share prices. The price was calculated as a weighted

average price of the company’s shares quoted on the Stock Exchange in 2000 plus

15%. It was decided to establish the buying up price at LTL 6.56.





Dalia  Gecienė

Chief financier

8-294-22206