ZEMAITIJOS PIENAS

MATERIAL EVENT



DECISIONS OF A GENERAL MEETING OF SHAREHOLDERS



(Unofficial translation done at the NSEL)



The general meeting of shareholders held on 12 March 2003 adopted the following

decisions:

1)to grant authorization to the Chairman of the Board concerning taking out of

loans and pledging of the assets;

2)to buy by way of leasing long-term tangible assets from a leasing company,

which will offer most suitable financing conditions. To authorize the Chairman

of the Board to sign respective agreements.





Dalia Gecienė

Chief financier

(370 444) 22206