TALLINNA KÜLMHOONE

COMMENTARY TO FINANCIAL RESULTS



COMMENTARY TO GROUP'S FINANCIAL RESULTS, H1 2000



The H1 2000 consolidated reports reflect the results of the following 

subsidiaries:

                                     holding % 		 holding %

                                     30.06.00 		 30.06.99 

Tallinna Külmhoone AS (parent)

AS Tartu Jäälill (Eesti)                100%		     100%

AS Rakvere Jäälill (Eesti)               51%		      51%



In H1 2000 Tallinna Külmhoone AS consolidated and unaudited net sales 

were EEK 228.5 mln, or EEK 17.6 mln more than (8.3%) in H1 1999.



Consolidated net sales by product lines:

Ice-cream		     26.5%

Frozen foodstuff	     43.2%

Refrigerated foodstuff	     29.0%

Other                         1.3%



In H1 2000 the company sold 1,762 tons of ice-cream (104 tons or 6.3% 

more than in H1 1999). Ice-cream exports were 132 tons or 7.5% of 

total ice-cream sales.



In H1 2000 Tallinna Külmhoone AS consolidated and unaudited net 

profit was EEK 5.7 mln (EEK 7.3 mln net profit in H1 1999). Lower 

profit was mainly due to increased prices of raw materials and 

increased provisions for amortization compared to Q1 1999 (launch of 

new ice-cream factory).





Evald Karu

Management Board member

+372 60 57 800