Pieno Zvaigzdes AB - Notification on material event

CORRECTION: ANNUAL GENERAL SHAREHOLDERS' METING OF PIENO ZVAIGZDES AB

Pieno Zvaigzdes AB (registered address Perkunkiemio 3, company code 1246 65536,
VAT No. LT 246655314) is calling an Annual General Shareholders' Meeting on 20
April 2010 at 11:00 am at Perkunkiemio 3 in Vilnius. Registration starts at
10:00 am. 

Agenda of the Meeting:
1. Annual Report. 
2. Audit report on the company's finance and the Annual Report.
3. Approval of the IAS accounts 2009.
4. Profit distribution.
5. Share buy back.
6. Rules and Regulations of the Audit Committee.
7. Election of the members to the Audit Committee.
The account date for the Annual General Shareholders' Meeting  is 13 April 
2010. 


APPROVAL OF THE DRAFT RESOLUTIONS BY THE ANNUAL GENERAL SHAREHOLDERS' MEETING

1. Annual Report.
Listened.

2. Audit report on the company's finance and the Annual Report.
Listened.

3. Approval of the IAS accounts 2009.
Approve Company‘s audited accounts 2009.
 4. Profit distribution.
•	Approve draft profit distribution (attached).
•	Aprove dividend of LTL 12.097.429,60 (3.503.657 EUR) or LTL 0,23 (0,067 EUR)
per share. 
•	Approve share buy back reserve of LTL 6.000.000 (1.737.720 EUR)
•	Approve tantjem of LTL 330.000 (95.575 EUR).
5. Share buy back.
5.1 Buy back the shares of Pieno Zvaigzdes AB through the submarket of official
proposal of NASDAQ OMX AB Vilnius, in accordance to the rules, governing this
market, do not approving the circular at Securities Commission. 
a) The purpose of shares acquisition - to stabilize the Company's share price,
increase shares liquidity and avoid of a loss because of the Company's share
price decreasing; 
         b) The maximum number of shares to be purchased - the nominal value of
own shares to be purchased together with other, already existing own shares may
not exceed 1/10 of share capital; 
c) the period during which the joint stock company may acquire its own shares -
18 months; 
d) the minimum price of the shares to be purchased - 30% lower than last week`s
weighted arithmetic average of Company's share price at NASDAQ OMX Stock
Exchange Vilnius Central Market. The maximum price for the shares to be
purchased - 30% higher than last week`s weighted arithmetic average of
Company's share price at NASDAQ OMX Stock Exchange Vilnius Central Market. 
         e) The order of selling of own shares and the minimum selling price:
the minimum selling price is not less than 2/3 of the share purchasing price.
In order to ensure equal opportunities for all shareholders to acquire shares
that were bought back, shares will be sold at Stock Exchange Central Market or
at auction, informing all shareholders about auction time and about the order
by registered letter or in public press. 
5.2 According to the decision of the present general meeting of shareholders
and to Article No. 54 of Joint Stock Companies Law of Republic of Lithuania,
the Board is delegated to take all decisions, related to share buy back timing,
determining price as well as decisions on time of selling own shares that were
acquired, also to solve any other issues, which are not covered by this
decision. 

6. Rules and regulations of the Audit Committee. 
Approve Rules and Regulations of the Audit Committee. 
7. Election of the members to the Audit Committee.
Elect members to the Audit Committee who were given most of the votes for one
year term. 


Audrius Statulevicius
CFO
(+370 5)246 1419