PRO KAPITAL

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 09/99



(in kroons, unaudited)

                                           Group            AS Pro Kapital



                                    30.09.99    31.12.98    30.09.99    31.12.98

ASSETS

Cash and bank                      3 272 928   9 590 884     498 510   4 015 037

Marketable securities             34 075 114                     -

Customer receivables               7 654 632   6 688 646   3 202 222   1 449 418

Other receivables                 18 346 765   6 503 862  19 178 606  60 415 605

Accrued income                            -      774 381          -      774 381

Prepaid expenses                              24 714 191   4 471 046   5 627 819

Inventories                      111 355 612  30 088 818  45 416 971  16 420 453

Total current assets             189 284 440  78 360 782  72 767 355  88 702 713

Long-term financial assets        21 822 122  32 910 464 450 564 768 167 998 630

Tangible assets                  582 987 444 521 955 209  50 270 897  94 868 764

Intangible assets                  3 547 018  12 740 691          -

Total noncurrent assets          608 356 584 567 606 363 500 835 665 262 867 394

TOTAL ASSETS                     797 641 025 645 967 144 573 603 020 351 570 107



LIABILITIES AND OWNER' S EQUITY

Debt obligations                  54 181 959  61 737 697  17 740 000   4 493 102

Customer prepayments for goods                49 656 794   7 674 130  40 376 763

and services

Supplier payables                 29 464 198  44 233 503   1 217 335   2 207 640

Other payables                            -                   11 973      56 710

Tax liability                        255 997   4 287 384     109 679   4 042 158

Accrued expenses                     493 530   4 312 678     270 862   4 175 343

Total current liabilities        106 202 086 164 228 056  27 023 980  55 351 716

Long-term debt obligations       204 601 092 219 168 098  60 222 063  47 112 739

Other long-term payables          18 849 399  10 717 395   4 750 000   4 750 000

Long-term provisions                 933 451     933 451     933 451     933 451

Total noncurrent liabilities     224 383 942 230 818 944  65 905 514  52 796 190

Minority interest                 -3 006 096  13 037 259

Share capital                    225 000 000 135 000 000 225 000 000 135 000 000

Paid-in capital over/under par   262 300 000 102 000 000 262 300 000 102 000 000

Restricted reserves                  596 749     113 144     596 749     113 144

Retained earnings                 -5 212 869    -159 454     425 452     377 047

Net profit/loss for the financial-11 359 375     830 190  -7 648 674   5 932 010

Exchange differences              -1 263 412      99 005

Total owners equity              470 061 093 237 882 885 480 673 527 243 422 201

TOTAL LIABILITIES AND OWNER' S 

EQUITY                           797 641 025 645 967 144 573 603 020 351 570 107





Ilona Saari

Financial Director

Tel. (+372) 614 4920