Tallinna Kaubamaja            NEWS RELEASE                      06/10/2004



CHANGE IN THE MANAGEMENT OF PARENT CO



On 8 June Edward Köster was appointed Purchase Director of the

Parent Company of Tallinna Kaubamaja AS. He held the same post

during September 2000 to April 2002.



Since 15 June Kati Kusmin, Director of Tallinna Kaubamaja, will

leave the company, whose task was the management of the

flagship store.



With an aim to make the management of the Parent Company more

efficient, this position will be liquidated. Instead of this a

new position of CFO and Sales Director will be formed to be

fulfilled by the present CFO Katrin Mühls.



The Management Board of the Parent Company also includes

Development Director Urmas Pastarus, HR Director Janika Kuusik

and Marketing Director Enn Parel.





Raul Puusepp

Chairman of the Board

+372 6 673 200