Tallinna Kaubamaja                 ANNOUNCEMENT                          18.01.2005



THE RESULTS OF A-SELVER FOR 2004



The unaudited annual gross sales of A-Selver, 100% subsidiary of Tallinna

Kaubamaja AS, for 2004 were 1.47 billion kroons (93.8 million euros), showing an

20% increase over the same period last year when the sales were 1.22 billion

kroons (78.2 million euros).



In 2004 the average monthly sales per square meter of sales area were 5.2 thousand 

kroons (0.33 thousand euros), growing 8% over the last year. The main sources

of growth were the increase in number of new customers and successful expansion of 

the chain. Krooni Selver in Rakvere, Männimäe Selver in Viljandi and Mai Selver 

in Pärnu showed the highest efficiency per square meter of sales area, the growth 

exceeded 20%.



In 2004 the number of purchases in Selver chain amounted to 11.8 million, showing

a 16% increase over the same period in 2003.



In 2004 the sales of Selver Cuisine increased by 28% over the same period last

year. The source of the growth in sales was the extension of production area as

well as the widening of the assortment of pastry, where the sales increased by

117%.



In 2005 Selver intends to develop faster than the retail market and by the end of

2007 the goal is to double the current selling area. In 2005 the new Selver

stores will be opened in Võru, in Valga and at Sõle Street in Tallinn.





Katrin Mühls

CFO and Sales Director

Tallinna Kaubamaja AS

phone: +372 6 673 200