ZEMAITIJOS PIENAS

MATERIAL EVENT



CONVOCATION OF A REPEATED GENERAL SHAREHOLDERS’ MEETING



On 4 May 2001, the extraordinary shareholders’ meeting did not take place

due to the lack of quorum. The repeated extraordinary shareholders’ meeting

will take place at 3 p.m. on 18 May 2001, at 35 Sedos St., in Telšiai.

On the agenda:

1) buy-up of the own shares pursuant to paragraph 1.1 of chapter 46 of

the Company Law of the Republic of Lithuania by establishing that up to

10 per cent of shares will be bought up at LTL 20 per share.

2) Other issues.





Irena Sketrienė

Responsible for securities

8-294-22214