ZEMAITIJOS PIENAS

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



On 30 April 2004, the Annual General Meeting of shareholders was held.

The meeting resolved to:

1. Approve the Annual Report 2003 on the company’s performance.

2. Agree with the Auditor’s Statement for 2003.

3. Approve the annual accounts for 2003, drawn pursuant to the requirements of

the legal acts on accounting of the Republic of Lithuania. Approve the annual

accounts for 2003, drawn pursuant to the International Reporting Standards.

4. Adopt the resolution concerning profit appropriation for 2003 and approve

allocation of dividend to the company’s shareholders in the amount of LTL 0.15

per one ordinary registered share of LTL 10 nominal value.

5. Support the decisions of the Board of  Zemaitijos Pienas AB concerning loan

raising and pledge of the assets to the banks.





Dalia Geciene

Vyr. finansininke

8-444-22206