Zemaitijos Pienas AB - Notification on material event

Regarding Convocation of the General Meeting of Shareholders

                     20-07-2012

By the initiative and decision of the Board of Žemaitijos Pienas, AB the
Ordinary General Meeting of Shareholders of AB Žemaitijos Pienas, company code:
180240752, is being convoked on 24 August, 2012 in the head office of the
Company (Sedos Str. 35, Telšiai). 

Place of the meeting: the meeting room of Žemaitijos Pienas, AB, located at
Sedos Str. 35, Telšiai. 

Opening of the meeting: 3:00 p.m.(Registration of shareholders starts at 2:15
p.m.) 

The Meeting Accounting day is 17 August, 2012 (only those persons, who will be
counted as the shareholders at the end of the Meeting Accounting day, or their
proxies, or persons with whom agreement for transfer of voting rights is
concluded shall be entitled to attend and vote at the General Meeting of
Shareholders). 

The Property Rights Accounting Day is __ ___________ (the shareholders shall be
entitled to use their property rights, emerging from decisions of the General
Meeting in proportion to the number of shares held at the end of the Property
Rights Accounting Day). 

Agenda of the Meeting:

1. Regarding choosing the audit company for the audit of the annual financial
statements, and setting the payment conditions for audit services. 

2. Other issues

The Company shall not provide the possibility of voting and attending at the
General Meeting through electronic communication channels. 

Draft resolutions on the agenda of the General Meeting, all documents to be
submitted to the General Meeting, and information related to the implementation
of rights of the shareholders will be posted on the Company's website
http://www.zpienas.lt under menu item “Investuotojams” (For Investors) no later
than 21 days prior to the Meeting. 

Each shareholder holding shares that grant at least 1/20 of the voting rights,
as well as other persons specified by law, shall have the right of proposing
amendments to the agenda of the General Meeting by submitting draft resolutions
on the proposed issues (in case, when the resolution is not required - an
explanation) together with each proposal.The proposals to supplement the agenda
shall be submitted in writing. 

The proposals to add additional items to the agenda may be submitted according
to the deadlines laid down in the Law on Companies of the Republic of
Lithuania. 

The shareholders shall be entitled to submit the questions concerning the
agenda of the Meeting in advance.The shareholders may submit the above
mentioned questions by e-mail no later than 3 working days before the date of
the Meeting.The Company will answer the submitted questions by e-mail before
the Meeting.The Company will not provide a shareholder with the answer to
his/her/its question personally, if the relevant information is posted on the
Company's website - http://www.zpienas.lt. 

When registering to attend the Meeting, the shareholders or their proxies will
be asked to present an identity document.The Powers of Attorney of the
shareholders must submit the duly authorised proxy documents.The Power of
Attorney issued by a natural person has to be notarized.The Power of Attorney
issued in a foreign state must be accompanied by a translation into the
Lithuanian language and duly legalized according to the law.The representative
may be authorized by more than one shareholder and can vote differently
according to the instructions given by each shareholder.The Company does not
determine a special form of proxy. 

A shareholder, who owns the shares of the Company acquired on its own name
however for the interests of other persons, before voting at the General
Meeting of Shareholders shall disclose to the Company the identity of the final
client, the number of voting shares and the content of given voting
instructions or any other explanation related to the participation and voting
at the General Meeting agreed with the client.The shareholder may vote with
such votes attached to part of shares differently from votes attached to the
other part of shares. 

A shareholder or his proxy may vote in advance in writing by filling in the
general ballot paper.The form of the General Ballot Paper will be posted on the
Company's website http://www.zpienas.lt under the menu item “Investuotojams”
(For Investors) no later than 21 days prior to the Meeting date.In case of a
written request by the shareholder, the Company shall send a General Ballot
Paper by registered mail or deliver it in person against signature no later
than 10 days prior to the Meeting date.The filled in General Ballot Paper must
be signed by the shareholder or his proxy.In case when the General Ballot Paper
is signed by the proxy, a document certifying the right to vote shall be
attached to it.The completed general ballot paper along with the accompanying
documents (if needed) must be presented to the Company by registered mail to
the address: Žemaitijos Pienas, AB, Sedos Str. 35, Telšiai to the Company's
secretary office no later than the last working day before the Meeting. 










         Gintaras Keliauskas
         Žemaitijos Pienas, AB
         Lawyer
         For Information:
         Phone: 8 444 22208