Tallinna Kaubamaja            NEWS RELEASE                01/21/2004 12:15



PRESS CONFERENCE OF A-SELVER



In connection with the press conference of AS A-Selver, subsidiary of

Tallinna Kaubamaja AS, taking place today, we issue the following

information:



The unaudited gross sales of A-Selver for 12 months of 2003 was 1,2 billion

kroons (78,2 million euros), showing an increase of 29 per cent over the

same period last year, when the respective figure was 949 million kroons

(60,7 million euros). The source of the growth in sales was additional sales

from new market segments attracted by repositioning as well as the full year

of operation of five new Selvers opened in 2002 and extension of sales area.



The number of purchases in Selver chain amounted to 10 million in 2003, the

increase over 2002 being 53 per cent. The number of purchases grew more than

sales because the average purchase of price-sensitive customers attracted by

repositioning is lower.



Selver aims to open new supermarkets in regional centres. Next Selvers are

to be opened in Tartu and Narva. The negotiations over implementing these

projects are under way, there is no approved schedule yet.





Katrin Mühls

CFO

+372 6 673 200