PIENO ZVAIGZDES

MATERIAL EVENT



ADOPTED DECISIONS OF A GENERAL SHAREHOLDERS’ MEETING



On 5 September 2000, a general meeting of AB Pieno Zvaigzdes decided to:

1) reorganise AB Pieno Zvaigzdes by way of merger of AB Pieno Zvaigzdes, which

   continues its activity, and AB Kauno Pienas, which ceases its activities as

   a legal person;

2) approve reorganisation projects and appendices of AB Pieno Zvaigzdes and

   AB Kauno Pienas;

3) approve Articles of Association of AB Pieno Zvaigzdes that will continue its

   activity after reorganisation;

4) increase the authorised capital of AB Pieno Zvaigzdes from LTL 41774105 to

   LTL 45025451 due to reorganisation in the manner provided by the

   reorganisation project;

5) not to grant the pre-emtive right to the shareholders of AB Pieno Zvaigzdes

   to acquire newly issued shares and to place 3251346 ORS and agricultural

   producers’ shares among shareholders of AB Kauno Pienas instead of their

   held shares of AB Kauno Pienas as it is provided by the reorganisation

   project.





Voldemaras Klovas

Chairman of the Board

8 (22) 481528