TALLINNA KÜLMHOONE

ANNOUNCEMENT



COMMENTARY TO THE FINANCIAL RESULTS, Q1 2001



The Q1 2001 consolidated financial reports include the results 

of the following subsidiaries:



				holding %  holding %

                    		31.03.01   31.03.00 

Tallinna Külmhoone AS (parent)

AS Tartu Jäälill         	  100%         100%

AS Rakvere Jäälill       	   51%          51%

AS Pärnu Jäälill         	  100%            -



In Q1 2001 Tallinna Külmhoone AS consolidated and unaudited net sales 

were EEK 123.5 mln, or EEK 25 mln (25.4%) more than in Q1 2000.



Consolidated net sales by product lines:

Ice-cream                          15.7%

Frozen foodstuff         	   52.6%

Refrigerated foodstuff             31.0%

Other                               0.7%



In Q1 2001 the company sold 560.2 tons of ice-cream (11 tons or 2.1% 

more than in Q1 2000). Ice-cream exports in Q1 2001 were 45.5 tons 

or 8.1% of total ice-cream sales.

In Q1 2001 Tallinna Külmhoone AS consolidated and unaudited net loss 

was EEK 0.87 mln (EEK 1.1 million loss in Q1 2000).





Evald Karu

Management Board member

+372 605 7800