PANEVEZIO PIENAS

MATERIAL EVENT



CONCERNING THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



On the initiative and decision of the company’s Board, the Annual General

Meeting of Panevezio Pienas AB (enterprise register code 4702212) shareholders

will be held  at the company’s premises at 9 Tinklų St., Panevezys on 28 April 

2004 at 11a.m.

Registration begins at 10.30 a.m.

On the agenda:

1. Auditor’s conclusion on the company’s annual accounts and the Annual Report.

2. Approval of the company’s Annual Report.

3. Approval of the company’s annual accounts.

4. Appropriation of the company’s profit.

5. Approval of the new wording of company’s Articles of Association.

6. Concerning sale, transfer, lease or pledge of the company’s long-term assets.

Registration date of the AGM is 21 April 2004.





Jonas Simutis

Director General

(+370-45) 502064