OLVI PLC             PRESS RELEASE 23 SEP 2003 at 3.00 pm   1 of 1

OLVI PLC’S SUBSIDIARY CONCLUDED THE ACQUISITION OF THE ESTONIAN
BEVERAGE COMPANY AS ÖSEL FOODS

AS A. Le Coq, the Estonian subsidiary of Olvi plc, acquired the
entire stock of the Estonian company OÜ Finelin. OÜ Finelin holds
100 per cent of the Estonian beverage company AS Ösel Foods. The
acquisition price is 10.3 million euro, including the company’s
liabilities. The parties signed the deal today. The final
execution of the sale requires approval from the Estonian
competition authority, which is expected to be granted by mid-
October 2003.

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. Its net sales in 2002 amounted to
10.4 million euro, while the net sales for the first six months of
2003 stood at 7.0 million euro. The sales volume of the company’s
beverages was 20 million litres in 2002, followed by 14 million
litres during the first six 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 83.1% 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 19.0 million euro for the first six months of
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 23 SEPT 2003 at 3.00 pm




                                                      APPENDIX 1

AS A. LE COQ      PRESS RELEASE    23 SEPT 2003 at 3.00 pm     1
A.LE COQ AND ÖSEL FOODS CONCLUDE PURCHASE AGREEMENT

AS A.Le Coq and the owners of AS Ösel Foods shares sign purchase
agreement today. The purchase will be finalized after Estonian
Competition Board has accepted it. The cost of the deal is 160
million EEK, the sum includes all liabilities.

It is highly probable that the Competition Board will announce its
decision in the middle of October as latest.

A.Le Coq made a purchase offer to the owners of AS Ösel Foods
shares in the beginning of current month. “Our offer was based on
intention to join the strengths. A.Le Coq and Ösel Foods have had
close cooperation already for several years and we believe that
the purchase will be beneficial for both parties as well as for
our consumers,ö the CEO of A.Le Coq Tarmo Noop commented.

“The owners of Ösel Foods have decided to sell as we firmly
believe that joining the two strong brands and companies will form
an economically effective beverage concern with Baltic output. The
deal will enhance the development of Aura brand which is rather
important for us,ö told the CEO of Ösel Foods Kuldar Leis. He
added that negotiations over the deal conditions have been smooth.

After purchase A.Le Coq is ready to take over most of the existing
team of Ösel Foods. The production of non-alcoholic beverages –
soft drinks, juices, juice drinks – will be focused in Ösel Foods
factory nearby Tartu.



Additional information:

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


Kuldar Leis
AS Ösel Foods, CEO
Ph: 07 390 400.
E-mail: [email protected]