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KAUBAMAJA UNAUDITED CONSOLIDATED INTERIM ACCOUNTS FOR THE SECOND QUARTER AND FIRST SIX MONTHS of 2012

NASDAQ OMX TALLINN, 25.07.2012 - The consolidated unaudited sales revenue of the Tallinna Kaubamaja Group in the 1st half-year of 2012 was 224.9 million euros, having increased by 9.1% compared to the 1st half-year of 2011, when the sales revenue was 206.2 million euros. In the second quarter, the Group’s sales revenue reached 118.8 million euros, exceeding the sales revenue of a year earlier by 8.0%

The consolidated unaudited sales revenue of the Tallinna Kaubamaja Group in the 1st half-year of 2012 was 224.9 million euros, having increased by 9.1% compared to the 1st half-year of 2011, when the sales revenue was 206.2 million euros. In the second quarter, the Group's sales revenue reached 118.8 million euros, exceeding the sales revenue of a year earlier by 8.0%. The consolidated unaudited net profit of the group, generated in the first six months of 2012, was 5.5 million euros, which is 7.6% higher than the 5.1 million euros of the same period last year. The Group's net profit of the second quarter was 2.3 million euros, which forms 65.1% of the comparable period of the previous year, when the corresponding indicator was 3.6 million euros. The net profit of the six months and especially the second quarter were considerably influenced by the income tax of 3.8 million euros paid on dividends in June. The pre-tax profit in the first six months was 9.3 million euros, having increased by 13.8% compared to the year before. The pre-tax profit of the 2nd quarter amounted to 6.1 million euros, but was 7.7% lower compared to the same period of the year before due to the write-off of the software which had lost its disposable value recognised in the depreciation of fixed assets in the amount of 0.9 million euros.

The sales revenue and the pre-tax profit of all business segments of the group increased, which allows the group to be satisfied with the result of the first six months. The priorities of the first six months have been looking for growth possibilities for the segments and increasing competitiveness through internal rearrangements. In late June, the group founded three new subsidiaries: Kaubamaja AS, Kulinaaria OÜ and Topsec Turvateenused OÜ, with the aim to reorganize the structure of the companies within the group and make management more transparent. The business activities of the segment of department stores which has been operating the department stores in Tallinn and Tartu in the parent company of the group are scheduled to be transferred to Kaubamaja AS in the course of the division. The security-related activities of the group which have been operated under Tartu Kaubamaja AS are scheduled to be transferred to Topsec Turvateenused OÜ. Selver AS is planning to transfer the business activities of the central kitchen to Kulinaaria OÜ in the course of the division. On 3 July, 2012, the group finalized the transaction to acquire 100% participation in AS Viking Motors. With this purchase, the group expands its segment of vehicle trade, which has been one of the strategic segments of the business activities of the group since 2007. By virtue of this transaction, in parallel to the export and sale of KIA vehicles in all the Baltic States, the salon in Tallinn will launch the sale and service of Opel and Cadillac, also the service of Saab, Corvette, and Hummer vehicles, providing an opportunity to expand the group's activities to the segment of commercial vehicles, and additional sale and service premises for better customer service.

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