ESKIMO FROZEN FOODS LIMITED

Investor Pitch

October 2011

2

Company Overview

• Eskimo Frozen Foods Ltd are re-building a previous business that traded as Eismann and went into

administration.

• We have changed the business model from franchises to direct employed driver deliveries from one depot,

Eismann paid in excess of £500,000 a year in rents for 11 depots to service 45,000 customers, we can

service 30,000 customers from one depot.

• Eismann allowed its franchise drivers to collect cash/payments and were owed £900,000 by the

franchisees when it went into administration, all payments to Eskimo will be in advance by credit/debit

card, either through the internet or by telesales staff.

• Our purpose built facility at Wllstead, Bedfordshire is in easy

reach of a number of wealthy counties:-» Bedfordshire

» Buckinghamshire

» Cambridgshire

» Hertfordshire

» Northamptonshire

» Oxfordshire

PROBLEM

Consumers want

to use Internet

Consumers want

quick nutritious

meals

Consumers Lead

Ever BusierLives .

Limited time to shop

Supermarkets offer poor

Choice of Frozen Food

The Eskimo Opportunity

4

Eskimo deliveries will be at the convenience of the customer

Eskimo will sell a core set of unique, high quality products not found commonly in supermarkets that will be

complimented by a large variety of basic products to supplement the range.

Eskimo will supply high quality frozen food products to a broad range of customers via Telesales calling and internet based sales

Quality

Customer Service

Choice

ESKIMO

OFFER

The Eskimo SOLUTION

5

Great Management

Team

Experience and Expertise

Strong Existing Proven and Massive Untapped Demand

Profitable and cash generative

Growing Market Sector

Tried and

Tested “Concept”

NationwideExpansionPotential

Why Invest / Lend ?

6

Jerry has been Managing Director of Spar Stores in the UK

and Ireland for the past 12 years

and has extensive retail experience, he

pioneered home delivery at Somerfield

Stores and saw the expansion of retail sales in the UK through home delivery. His vast

experience, contact with suppliers and in

the frozen food industry will be invaluable

JerryMarwood

Chairman

IanMatthews

ManagingDirector

BillAsling

OperationsDirector

DarrenWest

Chief Financial Officer

Strong Management Team

Ian has extensive experience in the home delivery business, he built Abel & Cole from

£3 million to £18 million turnover and improved margins from 12 to 44

per cent, instigated and completed contracts to

supply Dairy Crest Home Delivery and

OCADO with Organic Food boxes.

He has also been responsible for the start

up of Grovefresh, the Organic juice company,

which sold for £18 million.

Bill Asling is a degree educated manager with 33 years experience in a

variety of roles from operations through

sales to quality processes and

implementation of system solutions.

He has worked in the frozen food industry for

the past 8 years and before this worked in management system implementation and

operations.

Darren West is a chartered accountant with twenty five years experience in a broad

range of market sectors including start

up, hi-tech, dairy manufacturing and

food retail.

He has held senior finance and audit roles

with

• Allied Domecq Plc• Kerry Plc

• Farmright Group

Experience of listing companies

Value (000’s £) Volume (000’s kgs)

52 W/e 13 June 10

52 W/E 12 June 11

Year on Year

52 W/e 13 June 10

52 W/E 12 June 11

Year on Year

Total Frozen Foods

5,099,735 5,231,840 2.6% 2,001,429 2,044,517 2.2%

Total Ice-Cream

678,724 722,793 6.5% 336,158 349,573 4.0%

Frozen Fish 719,812 747,334 3.8% 123,591 130,150 5.3%

Frozen Savoury Food

884,577 908,555 2.7% 256,357 267,805 4.5%

ACCELERATING GROWTH FOR RETAIL FROZEN FOODSThe latest data kindly supplied by Kantar Worldpanel shows that the frozen food market is worth over £5.2 billion for the 52 weeks ending 12th June and is growing at 2.6% year on year. Most encouragingly, the volume growth has also shown a big increase to now 2.2% growth year on year.

Growing Market Sector (1)

Growing Market Sector (2)

Record results from frozen foods group Iceland

We expect the home delivery market to grow 3.5% to

£47.5bn in 2011, exceeding the 3.1% growth experienced in 2010. These two years of growth follow a dip in 2009

when the market declined by 1.2%. The biggest

contributors to growth in 2011 are food & grocery (an extra £0.55bn) and clothing

& footwear (£0.43bn).

www.datamonitor.com

BEDFORDDEPOT

100 Miles – 45,000

Existing Customer Database

75 Miles – 30,000

These are customers that previously purchased products from Eismann – so are already used to buying frozen food.

Tried and Tested “Concept” (1)

Tried and Tested “Concept” (2)

Cool benefits of frozen food

• Freezing is a natural process and does not usually require the use of any preservatives.• Frozen food seals in freshness. Frozen vegetables, for example, are picked and frozen

within hours of harvest, therefore locking in the vitamins and minerals, as well as the taste and texture.

• Thanks to freezing technology, people can enjoy all types of food throughout the year, regardless of the season at affordable prices.

• Freezing food could kill or reduce many potentially harmful microbes, which cause food poisoning.

• Frozen food tends to cost less than fresh, can be stored for much longer and offers brilliant flexibility for meal planning, thereby reducing wastage.

• Manufacturers are able to freeze food within minutes, which, compared to home freezing, gives a superior texture, taste and appearance, as well as retaining the nutritional value.

• Frozen food is easy to keep and easy to use, and there is little waste, whereas two thirds of the population ditch anything up to 20 items of fresh and chilled food a month.

• Frozen food gives consumers a quick and convenient way of fitting in a nutritious meal.

Learnt from mistakes of

Eismann

Latest Software and Technology

Unique Products – selected with

knowledge of what customers want

Warm to Hot Eismann Customer Database

Eskimo Competitive Advantages

12

EXPANSION OPPORTUNITIES

Cheshire/Lancashire

Midlands

Current Bedford

Site

London/Essex/Hampshire/Kent/Surrey/

Sussex *Cornwall/ Devon / Somerset / Avon

* In respect of London Depot we already have close to 15,000 previous Eismann ACTIVE customers to target

Web-Site Now LIVE

www.eskimofrozenfoods.co.uk

14

Weeks

Ord

ers

£9K

£16K

£20K

£25K

Week 1 - Actual

Week 2 - Actual

Week 3 - Forecast

Week 4 - Forecast

Value of Orders Taken

Growing Sales

Growing Brand

Our Unique Vans will shortly be on the Roads.The vans are specially built for us using a Mercedes chassis.

BEDFORD SITE 6 months 6 months Total Total Total Total TotalYear 1 Year 1 Year 1 Year 2 Year 3 Year 4 Year 5

Sales 1,353,856 1,620,000 2,973,856 3,122,548 3,278,676 3,442,610 3,614,740Card Deductions (40,616) (48,600) (89,216) (93,676) (98,360) (103,278) (108,442)Net Sales 1,313,240 1,571,400 2,884,640 3,028,872 3,180,315 3,339,331 3,506,298

Cost of Goods Sold 676,928 810,000 1,486,928 1,561,274 1,639,338 1,721,305 1,807,370

Net margin 636,312 761,400 1,397,712 1,467,598 1,540,978 1,618,026 1,698,928

48% 48% 48% 48% 48% 48% 48%

Overhead 538,189 589,640 1,127,829 1,184,220 1,243,431 1,305,603 1,370,883

Net profit 98,124 171,760 269,884 283,378 297,547 312,424 328,045

13% 18% 16% 16% 16% 16% 16%

EBITDA 164,274 285,160 449,434 471,905 495,500 520,275 546,289

SITE 2

Net Profit 98,124 98,124 227,569 290,462 304,985 320,235

EBITDA 164,274 164,274 378,533 483,703 507,888 533,282

SITE 3

Net Profit 0 0 269,884 283,378 297,547 312,424

EBITDA 0 0 449,434 471,905 495,500 520,275

Forecast

Investment / LoanInvestment / Loan Use of Funds

Equity £1 a share up to 100,000 for sale(Current shares issued – 1,000,000)Should be eligible for EIS relief

• Additional Vehicles

• Additional Stock

• Marketing Campaign

• Deposits for next DepotLoanAmount : £150,000 to £200,000 Repayable : 3 to 5 yearsSecurity : Floating Charge Interest rate : Competitive

5 Compelling Reasons for EIS30% Initial Income Tax Relief - claim back up to 30% relief against personal income tax on EIS investments to a maximum of £500,000 each per tax year. This allowance can be carried back to the previous tax year for offset against income tax. Shares must be held for a minimum of 3 years from the date they are issued. Actual cost 70 pence in the £1.

CGT Freedom - No Capital Gains Tax payable on disposal of shares after three years provided the EIS initial income tax relief was given and not withdrawn on those shares. No Capital Gains Tax to pay.

Inheritance Tax Relief - Shares in EIS qualifying companies will generally fall outside the estate for the purposes of Inheritance Tax purposes after two years, potentially reducing IHT liability to nil. Potential 40 pence in the £1 saving.

CGT Deferral Relief - is not capped at £500,000 and allows up to three-year-old capital gains tax to be rolled over into EIS companies and deferred indefinitely. Potential unlimited and indefinite deferral of existing an existing CGT bill Example

Loss Relief - If EIS shares are disposed of at any time at a loss (after taking into account income tax relief), the loss can be set against either the investor's income tax (in the year of disposal or the previous year) or capital gains tax liability. Maximum exposure 35 pence in the £1 for a 50% tax payer. Example

Your Text

There are a number of European companies

that would be interested in using us

to enter the UK market

EXIT STRATEGY

Trade Sale

Listing MBO

Exit Strategy

We would look to list on the

Frankfurt Bourse or UK AIM market

We would consider a purchase

by the prevailing management team

Please contactDarren WestChief Financial OfficerEmail: darren.west@eskimofrozenfoods.co.ukPhone: 0788 599 6423Fax: 01626 240191