Subscription Results of the Initial Public Offering of the Shares of AS Premia Foods

The initial public offering period of the subscription for the shares of AS     
Premia Foods ended on 29 April 2010 and on 30 April 2010 the management board of
AS Premia Foods approved the list of the subscribers.                           

AS Premia Foods notifies that during the initial public offering of the shares  
that was declared on 22 April 2010, 14 500 000 ordinary shares of AS Premia     
Foods were offered for sale. According to the decision of the Management Board  
the shares were sold at a price of 14 EEK for a share of which 10 EEK is the    
nominal value of the share and 4 EEK the issue premium. The total amount of the 
shares to be sold according to the decision of the Management Board is          
14 500 000, which is the maximum amount of the shares that was out for offering.
Overall demand for the shares exceeded offering almost twice.                   

2 404 801 shares, which is 16,6% of the shares in initial public offering will  
be distributed to the 1 350 retail investors that subscribed for the shares of  
AS Premia Foods.                                                                

The distribution of the shares to retail investors will be carried out according
to the following principles. All the retail investors will be granted a 100%    
distribution of up to 2 000 ordinary shares and for the amount exceeding 2 000  
ordinary shares, distribution will be granted in the amount of 20.1955%. Thus if
for example a retail investor subscribed for 3 000 ordinary shares, the investor
will be granted subscription for the ordinary shares in the following amount:   
2 000 shares plus 20.1955% multiplied by 1 000 shares totalling 2 201 shares    
(should the shares be indivisible then the number of the distributable shares   
will be rounded down to the closest whole number).                              

Premia Foods is most delighted that Estonian retail and institutional investors 
participated very actively in the initial subscription for the shares. We would 
like to thank current and future investors for their confidence and would like  
to welcome them to the Premia Foods family. We are also very pleased over the   
active participation of our own employees in the subscription for the shares. In
Estonia about 13% of our local employees subscribed for the shares” stressed Mr 
Kuldar Leis, the Chairman of the Management Board of AS Premia Foods.           

The head of the Baltic capital markets of Swedbank Markets, Mr Mihkel Torim,    
noted that the interest of investors in Estonian companies is growing and that  
it is good to see that the local capital market is strengthening and supports   
local enterprises.                                                              

On 21 April 2010 the extraordinary general meeting of AS Premia Foods adopted a 
conditional decision to increase the share capital of AS Premia Foods and       
granted the Management Board of AS Premia Foods the right to issue up to        
14 500 000 new ordinary shares of AS Premia Foods. The conditional increase of  
the share capital of AS Premia Foods was entered in the commercial register on  
28 April 2010. On 30 April 2010 the Management Board of AS Premia Foods adopted 
a decision to issue 14 500 000 new ordinary shares of AS Premia Foods to the    
persons who had subscribed for the shares during the initial public offering.   

Trading with the shares of AS Premia Foods on the main list of the NASDAQ OMX   
Tallinn Stock Exchange is estimated to commence on 5 May 2010.                  


Additional information:                                                         
Kuldar Leis                                                                     
Chairman of the Management Board of AS Premia Foods                             
Phone: 6 033 800                                                                
E-mail: kuldar.leis@premia.ee                                                   
www.premiafoods.eu