TALLINNA KÜLMHOONE

COMMENTARY TO FINANCIAL RESULTS



COMMENTARY TO GROUP'S FINANCIAL RESULTS, 2000



The year 2000 consolidated financial reports include the results 

of the following subsidiaries:

                                    holding %  	   holding %

                                     31.12.00 	    31.12.99 

Tallinna Külmhoone AS (parent)

AS Tartu Jäälill 		       100%		100%

AS Rakvere Jäälill 	                51%		 51%

AS Pärnu Jäälill         	       100%              -



In year 2000 Tallinna Külmhoone AS consolidated and unaudited net 

sales were EEK 485.2 mln, or EEK 30.2 mln (6.6%) more than in 1999.



Consolidated net sales by product lines:

Ice-cream				24.9%

Frozen foodstuff			46.2%

Refrigerated foodstuff		        27.8%

Other					 1.1%



In 2000 the company sold 3,480 tons of ice-cream (203 tons or 5.5% 

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

unfavorable weather conditions this summer. Ice-cream exports were 

250.1 tons or 7.2% of total ice-cream sales.

In 2000 Tallinna Külmhoone AS consolidated and unaudited net 

profit was EEK 14.1 mln (EEK 17.5 mln net profit in 1999). Lower 

profit was mainly due to increased prices of raw materials and 

lower ice-cream sales.





Evald Karu

Management Board member

+372 6057 800