Tallinna Kaubamaja               ANNOUNCEMENT                     20.12.2004



NEW SELVER STORE IN VALGA



On December 17, 2004 AS A-Selver, daughter company of Tallinna Kaubamaja AS,

concluded a lease agreement with a real estate developer Piiri Kinnisvara OÜ

for operating a new supermarket in the shopping center currently under

construction in Raja street 5 in Valga. The planned sales area for the new

Selver is 1300 sq m and the total lease area is 1800 sq m. Selver will

invest total 8 million kroons (0,51 million euros) into the project.

The new Selver will be opened in summer of 2005.





Katrin Mühls

CFO and Sales Director

Tallinna Kaubamaja AS

phone +372 6 673 200