Zemaitijos Pienas AB - Notification on material event

Regarding ordinary General meeting of the shareholders of JSC “Žemaitijos pienas”

Telsiai, Lithuania, 2011-03-18 14:58 CET (GLOBE NEWSWIRE) -- Under the lead and
decision of JSC “Žemaitijos pienas” at 15 h on 8th of April, 2011, ordinary
General meeting of the shareholders is called to take place at JSC “Žemaitijos
pienas”, enterprise code 300041701, previous address Sedos str. 35, Telšiai. 

Registration begins on 8th of April, 2011, on 14 h 45 min. up to 15 h. The
meeting starts at 15.00 h. 

The meeting takes place at office of the Company, Sedos str. 35, Telšiai.

1st of April, 2011 is the day of recording the meeting. Only such persons have
the right to participate and vote at General Meeting of the shareholders that
exist as shareholder by the end of reporting day of General meeting of the
shareholders; 

Only such persons have the interest, that were shareholders at the end of 10th
working day, after General meeting of the shareholders has taken the decision. 

22nd of April, 2010 is the day of recording the interest.

Schedule of the meeting:

  1. Regarding audition of annual report of the Company;
  2. Regarding audition of  conclusion of auditor of the Company as regarding
     the suit of financial reports and annual report of the Company;
  3. Regarding approval of the suit of audited financial reports of the Company
     of 2010;
  4. Regarding approval of allocation of the profit (loss) of the Company of
     2010;
  5. Regarding procurement of own shares of the Company;
  6. Regarding emission of the shares by issuing new shares;
  7. Regarding partial addition/emendation of the statute;
  8. Regarding recalling the members of Council of the beholders and the Board
     of the Company and election new members;
  9. Regarding recalling of independent members of Audit committee and approval
     of new member;
 10. Regarding isolation of laboratory of the Company;
 11. Regarding isolation of transport division of the Company;
 12. Regarding providing the services of centralist accounting
 13. Other questions.

The Company doesn't provide possibility to participate at the meeting and to
vote at it by electronic communication means. 

For the shareholders, whose shares provide them voting rights, none the less
than provided by the law, are given by the right to submit questions for
supplementing the schedule. The projects concerning offered questions should be
given together with the offer or, if the decisions shouldn't be taken, the
explanations should be given concerning each offered question to be included to
the schedule of General meeting of the shareholders. The offer for
supplementing the schedule should be given in writing and sent to above
mentioned address of the Company by registered letter. The schedule is
supplemented, if the offer is received before 14 days up to the date of opening
General meeting of the shareholders. 

The shareholders have the right to submit precedent questions to the Company
regarding schedule of the meeting in writing and to send them by registered
letter by pointing out personal code of the shareholder. The Company undertakes
liability to answer them, if questions should be received no less then before 5
days up to the date of opening General meeting of the shareholders. 

According to order stated by legislation, each shareholder has the right to
delegate other (natural or juridical) person to participate at the meeting and
vote at it in the name of the shareholder. The representative of the meeting
has the same right that are applied to shareholder, which he represents, unless
constricted rights are given by delegation as issued to representative.
Delegated person should submit authorization approved under order provided by
legislation. Authorization that is issued abroad should be translated to
Lithuanian and legalized after the order provided by the law. 

The shareholder or his representative has the right to vote in advance by
filling in common voting bulletin. Under request of the shareholder, the
Company at the latest as before 10 days till opening meeting should send
costless common voting bulletin by registered letter. Being filled in common
voting bulletin and the document that verify voting right should be submitted
in writing to the Company not latter then at closing working day as before the
meeting, by sending them to above mentioned address of the Company by
registered letter. 

The shareholders are given possibility to know the documents concerning calling
the meeting and the schedule of it, projects of each of the questions included
to schedule that should be submitted to meeting, the bulletin and other
information concerning development of shareholder's rights at office of JSC
“Žemaitijos pienas” during working hours at address Sedos str. 35, Telšiai
and/or at website of the Company: http://www.zpienas.lt/. 




         The Lawer   Gintaras Keliauskas
         tel. + 370-444 22208.