Pieno Zvaigzdes AB - Notification on material event

Pieno zvaigzdes AB, non audited financial results for the 1 quarter 2008

Revenues for the 1 quarter 2008 reached 150.1 million LTL (43.5 million EUR)
and have increased by 5.8% compared to the revenues of 142.0 million LTL (41.1
million EUR) a year ago. 

EBITDA for the 1 quarter 2008 reached 4.1 million LTL (1.2 million EUR) and
have decreased by 70% compared to 13.8 million LTL (4.0 million EUR) a year
ago. 

Net loss for the 1 quarter 2008 was 8.8 million LTL (2.5 million EUR) compared
to net profit of 2.6 million LTL (0.75 million EUR) a year ago. 

The main reason for negative result was revaluation of stock by 7.0 million LTL
(2.0 million EUR). 


Audrius Statulevicius
CFO
(+370 5)246 1419