Directorate Change

    Gold Frost (the "Company")                           

                              Directorate Change                               

The Company announces that Gil Hochboim has resigned for personal reasons, with
immediate effect, as finance director of the Company and has been replaced by
Albert Israeli.

Mr Israeli, aged 36, has extensive experience in finance and sales. Since 2003,
Mr Israeli has been the financial controller and sales & operation manager of
Golf & Co Group. Ltd, an Israeli publicly traded company. Between 2000 and 2003
Mr Israeli was the financial controller of Isfar Ltd and from 1997 to 2000 Mr
Israeli was a senior accountant at Sharony Sheffler. Mr. Israeli received a BA
degree in business administration and accounting from the college of management
in Israel and has an MBA degree from the same college. Mr Israeli is a
certified public accountant.

Commenting on Mr Hochboim's resignation, Zvi Williger, chief executive officer
of the Company added, "On behalf of the board I would like to thank Gil for his
commitment to the Company. We wish him well for the future."

Mr Williger also commented, "We are pleased to welcome Albert and look forward
to his contributions. His experience in finance, sales and operations in the
retail and wholesale industry will be invaluable as we pursue our international
expansion strategy."

There is no further information required to be disclosed under paragraph (g) of
Schedule 2 of the AIM Rules.

The Company also announces that it intends to release its results for its third
quarter during the second half of November 2006.

Enquiries:

Gold Frost Ltd

Zwi Williger, Chief Executive Officer +972 544 324924

Corporate Synergy Plc 020 7448 4400

David Seal



END

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