ZEMAITIJOS PIENAS

MATERIAL EVENT



REVISION OF AGENDA OF GENERAL SHAREHOLDERS’ MEETING



At the sitting of the Board of AB "Žemaitijos pienas" as of 1 March 2001,

the issues regarding the situation on the Lithuanian dairy market, potential

strategic investors into the Lithuanian dairy companies, and a possible merger

with AB "Pieno žvaigždės" or AB "Rokiškio sūris" were considered.

It was decided to supplement the agenda of the general shareholders’ meeting,

which is to take place on 23 March 2001, with the following issues:

7. Granting  of authorisation to the company’s Board to lead negotiations with

potential strategic investors and with other Lithuanian dairy companies.

8. Other issues.





Asta Kiguolienė

Chairman of Supervisory Board

294-22265