Zemaitijos Pienas AB - Notification on material event

Regarding acquisition of shares

21 May 2008


      On the basis of the sale and purchase agreement Žemaitijos pienas AB has
acquired 87.82 per cent of Šilutės Rambynas ABF's ordinary registered shares
which had been managed by Žemaitijos pieno investicija AB by the right of
ownership. The company acquired the shares for LTL 10,878,000 (ten million
eight hundred and seventy eight thousand litas), i.e. for LTL 14.41 fourteen
litas and forty one cents) per share. 

Gintaras Keliauskas
Lawyer
8 444 22208