GLF Gold Frost

    15 February 2008

                              Gold Frost Limited                               

                        ("Gold Frost" or "the Company")                        

                             Joint venture update                              

Further to the announcement made by the Company on 23 October 2007 (the
"Announcement"), Gold Frost, the designer, developer and distributor of branded
kosher dairy food announces that it has signed and completed a definitive
agreements to purchase a majority interest from the owners of a dairy
distributor in Denmark (the "Distributor"). The closing of the transaction is
expected to the end of February 2008 on the terms previously disclosed in the
Announcement.

Enquiries:

Gold Frost Ltd

Zwi Williger, Chief Executive Officer +972 544 324924

Blue Oar Securities Plc

Rhodri Cruwys/ Matthew Marchant +44 207 448 4400



END

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