TALLINNA KÜLMHOONE

ANNOUNCEMENT



INTERIM RESULTS OF KAUNO PIENO CENTRAS' TENDER OFFER



AB Kauno Pieno Centras, the core investor of Tallinna Külmhoone AS, 

made a public tender offer for the outstanding shares at a price 

of EEK 18.00 per share in Tallinna Külmhoone AS. The offer is valid 

until August 17, 2001.

As of 26.07.2001 shareholders of Tallinna Külmhoone AS have 

accepted AB Kauno Pieno Centras' public tender offer

for total of 111,371 shares, which accounts for 24.5% of the 

shares for which the offer was made, and 3.3% of Tallinna 

Külmhoone AS share capital.

As of 26.07.2001, AS Trigon Securities as the party acting in concert 

with AB Kauno Pieno Centras owned 82,058 shares of Tallinna 

Külmhoone AS, representing 2.4% of the company's share capital.

Kauno Pieno Centras is a 86.6% shareholder of Tallinna Külmhoone AS.



Additional information:

Kristel Kivinurm

Trigon Markets

Email: k.kivinurm@trigon.ee

Tel: 6679208





Evald Karu

Management Board member

+372 6 057 800