TALLINNA KÜLMHOONE

ANNOUNCEMENT



COMMENTARY TO FINANCIAL RESULTS, 9M 2000



The 9m 2000 consolidated reports reflect the results of the following 

subsidiaries:

                                     holding % 		 holding %

                                     30.09.00 		 30.09.99 

Tallinna Külmhoone AS (parent)

AS Tartu Jäälill (Eesti)                100%		     100%

AS Rakvere Jäälill (Eesti)               51%		      51%



In 9m 2000 Tallinna Külmhoone AS consolidated and unaudited net sales 

were EEK 363.8 mln, or EEK 18 mln more than (5.2%) in 9m 1999.



Consolidated net sales by product lines:

Ice-cream		     27.7%

Frozen foodstuff	     44.2%

Refrigerated foodstuff	     26.9%

Other                         1.2%



In 9m 2000 the company sold 2,899 tons of ice-cream (205 tons or 6.6% 

less than in 9m 1999). Decrease in sales of ice-cream was due to 

unfavorable weather conditions this summer. Ice-cream exports were 

224 tons or 7.7% of total ice-cream sales.



In 9m 2000 Tallinna Külmhoone AS consolidated and unaudited net 

profit was EEK 13.7 mln (EEK 17.8 mln net profit in 9m 1999). Lower 

profit was mainly due to increased prices of raw materials and lower 

ice-cream sales.





Evald Karu

Management Board member

+372 60 57 800