Baltika                             ANNOUNCEMENT                        08.12.2004



Baltika's sales results in November



In November, the unaudited consolidated net sales of Baltika amounted to  51.69  M

EEK - an increase of 14% on last year. Retail sales grew by 19%  and  amounted  to

37.39 M EEK, forming 72% of the net sales.



The wholesale and subcontractor sales figures totalled 14.1  M  EEK  in  the  same

period.



Baltika's largest fashion  brand  Monton  comprised  51.1%  of  November's  retail

sales, amounting to 18.7 M EEK. These figures represent an  decrease  of  7.8%  on

comparative November 2003 sales.

Baltman's sales volume  increased  in  November  by  44%  by  contrast  with  2003

figures, amounting to 4.5 M EEK.

The sales volume of CHR/Evermen showed the sharpest  growth  by  73,5%,  totalling

9,6 M EEK. The combined sales growth of CHR/Evermen and  Baltman  is  due  to  the

establishment of new branches and also as a result  of  greater  sales  efficiency

growth (sale/m2), relative to last year.



In November, the largest increases in sales were in Latvia  by  57%,  followed  by

23% in Lithuania, and 17% in Ukraine.



In November, one new store was opened in  Poland  in  Warsaw  -  Monton  in  Ursus

Centre. Furthermore, in Latvia, a new Monton store was opened in  Alfa  Centre  in

Riga, while a Baltman and Monton branch in Reval Hotel Latvia was discontinued.



As of the end of November, the Baltika Group has 78 shops in its retail chain.



Overall, Baltika net sales for the first eleven months of 2004  reached  535.39  M

EEK, which is an increase of 18% on last year's figures.





Additional information:

Anu-Mall Naarits

Marketing Manager

AS Baltika

6 302 823

anumall.naarits@baltika.ee