A dispenser comprising a liquid supply and a cooling reservoir (14), the cooling reservoir (14) having an entry port (26) and an exit port (28). The cooling reservoir (14) is shaped so as to position a pocket of air at the top of the reservoir when the reservoir contains liquid (53), and the entry port (26) communicates with the air pocket. The dispenser has a conduit connected on one end to the liquid supply and on the other end to the entry port (26) of the cooling reservoir (14). The dispenser further comprises a cooling element disposed inside the cooling reservoir (14) and a first pump for moving the liquid (53) from the liquid supply to the cooling reservoir (14) through the conduit.