In cold climates heat recovery in the ventilation system is essential to reduce heating energy demand. Condensation and freezing occur often in efficient heat exchangers used in cold climates. To develop efficient heat exchangers and defrosting strategies for cold climates, heat and mass transfer must be calculated under conditions with condensation and freezing. This article presents a dynamic model of a counter flow air to air heat exchanger taking into account condensation and freezing and melting of ice. The model is implemented in Simulink and results are compared to measurements on a prototype heat exchanger for cold climates.