Zemaitijos Pienas AB - Notification on material event

Regarding the general meeting of shareholders

                                                                24-08-2011 



Upon the initiative and decision of the Management Board of Žemaitijos pienas
AB, the Annual General Meeting of Shareholders of Žemaitijos pienas AB,
enterprise code 180240752, registered at Sedos st. 35, Telšiai, will be held at
3 p.m. on 23 September 2011. 

Registration will take place from 2:30 p.m. till 3 p.m. on 23 September 2011.
The Meeting will start at 3 p.m. 

The venue of Meeting will be the registered office of company, Sedos st. 35,
Telšiai. 

The record date of the Meeting shall be 16 September 2011. The right to
participate and vote in the General Meeting of Shareholders shall be granted
only to those persons who were shareholders at the end of the record date of
the General Meeting. 


The agenda of the General Meeting shall be as follows:



1. Election of the firm of auditors and establishment of and terms of payments;

2. Other issues.



The company will not provide an opportunity to participate and vote in the
Meeting by using the electronic means of transmission. 

Shareholders, whose own shares carry the number of votes that is not lower than
provided for by the law, shall have the right to propose issues for the agenda.
Draft decisions on the proposed issues shall also be submitted together with
the proposal or, in those cases when it is not required to adopt the decision,
the explanations for each issue proposed for the agenda of the General Meeting
of Shareholders shall be submitted.  The proposal to supplement the agenda
shall be submitted in writing by registered post to the aforementioned
registered address of the company. The agenda shall be supplemented if the
proposal is received not later than 14 days before the General Meeting. 

The shareholders shall have the right to provide the company with advance
questions related to the agenda of the Meeting in writing sending them by
registered post and by indicating the personal ID number of the shareholder in
the letter. The Company shall be obliged to reply if the questions are received
not later than 5 working days before the General Meeting. 

Based on the procedure established by the laws, each shareholder shall have the
right to authorize the other person (either legal or natural) to participate
and vote on behalf of him/her in the Meeting.  In the Meeting, the authorized
person shall be granted with the equal rights as the shareholder he/her/it
represents unless the proxy or laws provide him/her/it with more constricted
rights of authorization. The authorized person must present the proxy certified
in accordance with the procedure set forth by the laws. The proxy issued in a
foreign country shall be translated into Lithuanian language and legalized in
accordance with the procedure established by the laws. 

The shareholder or his/her authorized person shall have the right to vote in
advance in writing by filling the general ballot paper. Upon the request of the
shareholder, the company shall send the general ballot paper by registered post
free of charge at least 10 days before the General Meeting. Filled general
ballot paper and document certifying the right to vote shall be submitted to
the company in writing not later than on the last working day before the
General Meeting by registered post to the aforementioned registered address of
the company. 

The shareholders shall have the right to access the documents related to the
convocation of the Meeting and its agenda, drafts of decisions on each agenda
issue, documents that must be submitted to the Meeting, the form of general
ballot paper and other information related to the execution of shareholder's
rights during working hours in the registered office of Žemaitijos pienas AB,
Sedos st. 35, Telšiai and/or in company's website http://www.zpienas.lt/. 




         Gintaras Keliauskas
         Jurists
         Tel. +370 444 222 08