Pieno Zvaigzdes AB - Notifications on transactions concluded by managers of the companies

Notifications on transactions concluded by managers

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|                         |       2009.03.20        |                          |
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|                         | (date of announcement)  |                          |
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Notification on the transaction in issuer's securities                          


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| Julius Kvaraciejus, Board member                                             |
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| (name, surname, personal code and capacity of the notifying person, or the   |
| manager of the issuer, with whom the notifying person is closely associated) |
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| Pieno Zvaigzdes AB, identification code 124665536, Laisves pr. 125, Vilnius, |
| Lithuania                                                                    |
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| (name and code of the issuer, its registered office address)                 |
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| Name    | Numb | Pri | Total | Form  | Type | Date   | Place | Form  | Categ |
| and     | er   | ce  | value | of    | of   | of     | of    | of    | ory   |
| class   | of   | of  | of    | trans | tran | conclu | trans | settl | of    |
| of the  | secu | sec | trans | actio | sact | sion   | actio | ement | the   |
| securit | riti | uri | actio | n     | ion  | of     | n*    |       | perso |
| y, ISIN | es   | tie | n,    | (acqu |      | transa |       |       | n**   |
| code    |      | s,  | LTL   | isiti |      | ction  |       |       |       |
|         |      | LTL |       | on,   |      |        |       |       |       |
|         |      |     |       | trans |      |        |       |       |       |
|         |      |     |       | fer)  |      |        |       |       |       |
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| AB      | 1000 | 3,3 | 3300  | acqui | purc | 2008.1 | AUTO  | cash  | 1.2.  |
| „Pieno  |      |  0  |       | sitio | hase |  2.01  |       |       |       |
| žvaigžd |      |     |       | n     |      |        |       |       |       |
| ės“     |      |     |       |       |      |        |       |       |       |
| PVA,    |      |     |       |       |      |        |       |       |       |
| LT0000  |      |     |       |       |      |        |       |       |       |
| 111676  |      |     |       |       |      |        |       |       |       |
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| AB      | 1150 | 3,3 | 3852, | acqui | purc | 2008.1 | AUTO  | cash  | 1.2.  |
| „Pieno  |      |  5  |  50   | sitio | hase |  2.01  |       |       |       |
| žvaigžd |      |     |       | n     |      |        |       |       |       |
| ės“     |      |     |       |       |      |        |       |       |       |
| PVA,    |      |     |       |       |      |        |       |       |       |
| LT0000  |      |     |       |       |      |        |       |       |       |
| 111676  |      |     |       |       |      |        |       |       |       |
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| AB      | 350  | 3,3 | 1172, | acqui | purc | 2008.1 | AUTO  | cash  | 1.2.  |
| „Pieno  |      |  5  |   5   | sitio | hase |  2.01  |       |       |       |
| žvaigžd |      |     |       | n     |      |        |       |       |       |
| ės“     |      |     |       |       |      |        |       |       |       |
| PVA,    |      |     |       |       |      |        |       |       |       |
| LT0000  |      |     |       |       |      |        |       |       |       |
| 111676  |      |     |       |       |      |        |       |       |       |
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| AB      | 4500 |  3  | 13500 | acqui | purc | 2008.1 | AUTO  | cash  | 1.2.  |
| „Pieno  |      |     |       | sitio | hase |  2.02  |       |       |       |
| žvaigžd |      |     |       | n     |      |        |       |       |       |
| ės“     |      |     |       |       |      |        |       |       |       |
| PVA,    |      |     |       |       |      |        |       |       |       |
| LT0000  |      |     |       |       |      |        |       |       |       |
| 111676  |      |     |       |       |      |        |       |       |       |
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| AB      | 550  |  3  | 1650  | acqui | purc | 2008.1 | AUTO  | cash  | 1.2.  |
| „Pieno  |      |     |       | sitio | hase |  2.02  |       |       |       |
| žvaigžd |      |     |       | n     |      |        |       |       |       |
| ės“     |      |     |       |       |      |        |       |       |       |
| PVA,    |      |     |       |       |      |        |       |       |       |
| LT0000  |      |     |       |       |      |        |       |       |       |
| 111676  |      |     |       |       |      |        |       |       |       |
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| AB      | 1225 | 2,8 | 3491, | acqui | purc | 2008.1 | AUTO  | cash  | 1.2.  |
| „Pieno  |      |  5  |  25   | sitio | hase |  2.02  |       |       |       |
| žvaigžd |      |     |       | n     |      |        |       |       |       |
| ės“     |      |     |       |       |      |        |       |       |       |
| PVA,    |      |     |       |       |      |        |       |       |       |
| LT0000  |      |     |       |       |      |        |       |       |       |
| 111676  |      |     |       |       |      |        |       |       |       |
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| AB      | 185  |  3  |  555  | acqui | purc | 2008.1 | AUTO  | cash  | 1.2.  |
| „Pieno  |      |     |       | sitio | hase |  2.02  |       |       |       |
| žvaigžd |      |     |       | n     |      |        |       |       |       |
| ės“     |      |     |       |       |      |        |       |       |       |
| PVA,    |      |     |       |       |      |        |       |       |       |
| LT0000  |      |     |       |       |      |        |       |       |       |
| 111676  |      |     |       |       |      |        |       |       |       |
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CFO        Audrius Statulevicius                                                

*                                                                               
AUTO - automatically matched trade concluded in the regulated market            
TS - manual trade concluded in the regulated market                             
XOFF - OTC trade                                                                

**                                                                              
1. A manager of the issuer (as defined in the item 5.1. of the Rules):          
1.1. Manager of the Company;                                                    
1.2. Member of the Board;                                                       
1.3. Member of the Supervisory Board;                                           
1.4. Other employee.                                                            
2. A person closely related to the manager of the issuer (as defined in the item
5.2. of the Rules):                                                             
2.1. Spouse, partner;                                                           
2.2. Child, foster child;                                                       
2.3. Other person;                                                              
2.4. Legal person.