TALLINNA KÜLMHOONE

ANNOUNCEMENT



COMMENTARY TO FINANCIAL RESULTS H1 2001



The H1 2001 consolidated reports reflect the results of the following 

subsidiaries:

 				     holding % 		 holding %

                                     30.06.01 		 30.06.00 

Tallinna Külmhoone AS (parent)

AS Tartu Jäälill (Eesti)                100%		     100%

AS Rakvere Jäälill (Eesti)               51%		      51%

AS Pärnu Jäälill (Eesti)     		100%                   -



In H1 2001 Tallinna Külmhoone AS consolidated and unaudited net sales 

were EEK 260 mln, or EEK 31,5 mln more than (13.8%) in H1 2000.



Consolidated net sales by product lines:

Ice-cream		    	22.9%

Frozen foodstuff	    	48.3%

Refrigerated foodstuff	     	28.0%

Other                            0.8%                   



In H1 2001 the company sold 1,642 tons of ice-cream (120 tons or 6.8% 

more than in H1 2000). Ice-cream exports were 134 tons or 8.2% of 

total ice-cream sales. In H1 2001 Tallinna Külmhoone AS consolidated 

and unaudited net profit was EEK 2.8 mln (EEK 5.7 mln net profit 

in H1 2000). Lower profit was mainly due to decrease in sale of 

ice-cream as a result of poor weather conditions.





Evald Karu

Management Board member

+372 605 7800