PANEVEZIO PIENAS

MATERIAL EVENT



CONVOCATION OF A GENERAL MEETING OF SHAREHOLDERS ON 24 APRIL 2003



(Unofficial translation done at the NSEL)



On initiative and by decision of the Board a a general meeting of shareholders

of Panevėžio Pienas AB will be held at 12 pm, on 24 April 2003 at  the

company’s premises located at Tinklų st. 9, Panevėžys. Shareholders’

registration starts on 10 am.

Agenda includes:

1. Auditor’s report concerning  the company’s 2002 financial statements and

activity report.

2.  Approval of the company’s activity report.

3. Approval of the company’s annual financial statements.

4. Approval of f the distribution of 2002 profit (loss).

5. Chasing of an auditor and settlement of remuneration conditions.

6. Approval of the new version of the company's by-laws.

7. Concerning sale, transfer, rent or pledging of the company’s long-term and

other assets.





Gediminas Sargūnas

Director General

(370 45) 502064