ZEMAITIJOS PIENAS

MATERIAL EVENT



CONVOCATION OF THE GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



The company Zemaitijos Pienas AB, enterprise code 8024075, acting on the

initiative and the decision of the Board, convenes the Annual General Meeting

of Zemaitijos Pienas AB shareholders to take place at the company’s premises

35 Sedos St. Telsiai on 30 April 2004 at 3 p.m. The registration date of the

AGM is 23 April 2004. The shareholders will be registered from 2 p.m. (To have

a personal identification document.) A person, who is not a shareholder must

also present a document certifying his/her right to vote at the General Meeting.

On the agenda:

1) Approval of the Annual Report 2003 of Žemaitijos Pienas AB.

2) Auditor’s statement for 2003.

3) Approval of the annual accounts for 2003.

4) Profit (loss) appropriation of 2003.

5) Approval of the Board decisions concerning bank loans and pledge of the

company’s assets.





Dalia Geciene

Chief Financier

(+370-444) 22206