ZEMAITIJOS PIENAS

MATERIAL EVENT



ORDINARY REGISTERED SHARES OF ZEMAITIJOS PIENO INVESTICIJA AB REGISTERED



(Unofficial Translation Done at the NSEL)



On 10 June 2004, the Lithuanian Securities Commission registered  the ordinary

registered shares of  Zemaitijos Pieno Investicija AB (3,526,699 shares of LTL

3 nomianl value; total nominal value is LTL 10,580,097) by separating part of

Zemaitijos Pienas AB and creating a new company, Zemaitijos Pieno Investicija

AB, on that basis. The share issue prospectus of Zemaitijos Pieno Investicija

AB may be obtained at the registered office of Zemaitijos Pienas at 35 Sedos,

Telsiai, on working days from 2.00 p.m. to 5.00 p.m.





Dalia Geciene

Chief Financier

(+370-444)-22206