Tallinna Kaubamaja              ANNOUNCEMENT               10.02.2005



Declaration of intent of A-Selver for operation rights



On February 9, 2005 AS A-Selver, full subsidiary of Tallinna Kaubamaja AS, AS

Tirsi Kinnisvara Haldus and OÜ Tirsi Grupp, a retail market operator in

Tartu, signed a declaration of intent.



According to the declaration the parties carrying on the negotiations 

for A-Selver to acquire the operating rights of the supermarkets in Tartu,

belonging to OÜ Tirsi Grupp, as well as the related assets and rights.



In addition A-Selver is planning to conclude the lease agreements with AS Tirsi

Kinnisvara Haldus for operating supermarkets in the following addresses: in Tartu

Turu 37a, Kalda road 43 and Ringtee 76/78, Suur-Jõe 57 in Pärnu and Mustakivi

road 3a in Tallinn.



During three months the parties intend to sign the lease agreements and to

conclude the deal. The permission from Competition Board is the precondition for

closing the deal.



The unaudited gross sales of A-Selver for 2004 were 1.47 billion kroons (93.8

million euros). The unaudited gross sales of OÜ Tirsi Grupp for 2004 were 613

million kroons (39.2 million euros).



Katrin Mühls

CFO and Sales Director

Tallinna Kaubamaja AS

phone: +372 6 673 200