OLVI PLC             PRESS RELEASE 11 NOV 2003 at 3.00 pm   1 of 1

OLVI PLC’S SUBSIDIARY RECEIVED PERMISSION FROM THE ESTONIAN
COMPETITION AUTHORITY TO PURCHASE AS ÖSEL FOODS

AS A. Le Coq, the Estonian subsidiary of Olvi plc, today received
permission from the Estonian competition authority to acquire the
entire stock of the Estonian company OÜ Finelin. OÜ Finelin holds
100 per cent of the Estonian beverage company AS Ösel Foods. The
Estonian competition authority’s decision only included a
restriction for the cider sales of AS A. Le Coq and AS Ösel Foods.
According to the restriction, cider sales must remain at the level
of the 2003 combined total volume of the two companies.

The parties have executed the sale today, making OÜ Finelin a 100%
subsidiary of AS A. Le Coq. The acquisition price was 10.3 million
euro, including the company’s liabilities.

AS Ösel Foods is a beverage company manufacturing juices and
mineral waters, as well as soft drinks with added vitamins. It is
domiciled in Reola, Ülenurme, Tartumaa, approximately 10
kilometres from Tartu. The company’s Estonian brands include Aura,
Aura ACE, Aura Spring and Gruuv. The company’s net sales in 2002
amounted to 10.4 million euro. Net sales in the first 10 months of
2003 amounted to 11.64 million euro, and the operating profit was
1.95 million euro. The sales volume of the company’s beverages was
20 million litres in 2002, followed by 23 million litres during
the first ten months of 2003. AS Ösel Foods is the market leader
in the Estonian juice market with a 27 per cent market share. It
employs approximately 90 people.

AS A. Le Coq is a fully owned subsidiary of Olvi plc and holds
100% of AS Tartu Ölletehas in Estonia, 90.87% of A/S Cesu Alus in
Latvia, as well as 83.07% of AB Ragutis in Lithuania. Consolidated
net sales for the AS A. Le Coq Group amounted to 39.0 million euro
in 2002, followed by 31.9 million euro for the first nine months
of 2003.

The business of OÜ Finelin and its subsidiary AS Ösel Foods is
included in Olvi Group’s consolidated accounting from 1 November
2003 onwards. The acquisition of shares does not have any
essential effect on Olvi Group’s earnings in 2003.

Markku Rönkkö
Managing Director

Phone  + 358 50 65 851

DISTRIBUTION
Hex Plc
Key media
http://www.olvi.fi

APPENDIX  AS A.Le Coq press release in English 11 November 2003

                                                       APPENDIX 1

AS A.LE COQ                PRESS RELEASE     11.11.2003

ESTONIAN COMPETITION BOARD ALLOWES A.LE COQ TO PURCHASE ÖSEL FOODS

Today AS A.Le Coq and the owner of AS Ösel Foods shares OÜ Finelin
will conclude purchase agreement and the transfer of Ösel Foods
shares to A.Le Coq will take place. A.Le Coq will become the sole
owner of Ösel Foods shares. Estonian Competition Board has today
given its final accept to the deal.

The competition board made one reservation according to which
after the joining of the two companies A.Le Coq’s cider production
volume has to remain to the similar level as the consolidated
cider production volume of A.Le Coq and Ösel Foods is in year
2003.

“Joining the two companies enables further developments for A.Le
Coq. The purchase of Ösel Foods will first of all bring along
additional value for us in Latvian and Lithuanian markets, there
will not be big changes for Estonian consumer. Both Aura and A.Le
Coq will remain our main brands and we’ll give our best in
developing them further separately,ö commented Tarmo Noop, the CEO
of AS A.Le Coq. “The main structures of the two companies will be
consolidated in the beginning of January. Ösel Foods facilities
will be used for production and product development,ö he added.

According to Tarmo Noop, two previous owners and members of
management board of Ösel Foods have received an offer to continue
working in A.Le Coq – financial manager Tiina Loot and laboratory
manager Margit Pill. The other previous owners - CEO Kuldar Leis,
sales director Silver Kaur, marketing manager Katre Kõvask,
production manager Margus Mals and chairman of supervisory board
Toivo Alt – will not continue.

A.Le Coq will take over most of the Ösel Foods existing team. In
Noop’s words the plan is to focus all production of non-alcoholic
beverages – soft drinks, juices, juice drinks – to Ösel Foods
factory nearby Tartu.

The 10-month turnover of AS Ösel Foods in current year was 182
million EEK, operating profit was 30,5 million EEK. The company’s
forward sales projection for current year is 210 million EEK,
operating profit prognoses are 33 million EEK.

AS A.Le Coq, belonging to the Finnish concern Olvi Oy, owns 100%
of Tartu Õlletehas stocks, 90,87 % of Latvian brewery Cesu Alus
stocks and 83,1% of Lithuanian brewery Ragutis AB stocks. The
turnover of the companies belonging to ALC group was 297 million
kroons in the first half of the current year.
The consolidated turnover of A. Le Coq and Ösel Foods during the 9
months of current year was 499 million EEK.




Additional information:

Tarmo Noop
AS A.Le Coq, CEO
Ph: 07 449 711
E-mail: [email protected]