TALLINNA KAUBAMAJA

ANNOUNCEMENT



COMMENTARY TO ARTICLE IN ÄRIPÄEV ONLINE ON 16.01.2002



With regard to the article in Äripäev Online on 16.01.2002

we hereby announce that Tallinna Kaubamaja Kinnisvara AS, member of

Tallinna Kaubamaja group, has started with a detailed plan for 

Gonsiori 2, Tallinn, aiming at further development of the registered 

immovable. Currently, the company has no building design or 

investment plan for development of the respective registered immovable.





Katrin Mühls

CFO

+372 6 673 200