Zemaitijos Pienas AB - Notification on material event

Resolution by Žemaitijos pienas AB re share buy back

Telšiai, Lithunia, 2010-12-15 16:04 CET (GLOBE NEWSWIRE) -- 15-12-2010

As per resolution by the General Meeting of Shareholders' of Žemaitijos pienas
AB, the company initiates buy back of its own common shares of LTL 1 par value.
The share buy back is decided through a way of official offer at NASDAQ OMX
Vilnius. Share sale offers are accumulated through entire sale term. Should
sale offers exceed share buy back in quantity, all offers are reduced in
proportion. 

Share buy back starts: 20 December 2010.

Share buy back ends: 18 January 2010.

Max quantity of shares to be bought back: till 909 090.

Share buy back price: LTL 2,20 per share.

Gintaras Keliauskas

lawyer

         (+370 444) 22208