EESTI TELEKOM

BALANCE SHEET



BALANCE SHEET OF ESTONIAN MOBILE TELEPHONE COMPANY 31.12.99



IAS, unaudited

EEK thous.

                                        Group            Parent Company

                                  31.Dec 99 31.Dec 98  31.Dec 99  31.Dec 98

                                                                           

ASSETS                                                                     

Non-current assets                                                         

Land, buildings and equipment       818 394   740 130    810 000    734 335

Goodwill                             10 716    14 100     10 716     14 100

Purchased licenses, patents and         341        80          0          0

trademarks

Other investments                         0         0     23 832     14 990

Other long-term receivables             128       131        128        131

Total non-current assets            829 579   754 441    844 676    763 557

                                                                           

Current assets                                                             

Inventory                            75 849    53 384     65 883     46 816

Trade receivables                   165 924   141 211    155 858    142 378

Cash and equivalents                255 931    86 957    244 664     79 895

Total current assets                497 703   281 552    466 405    269 090

                                                                           

Total assets                      1 327 282 1 035 993  1 311 081  1 032 647

                                                                           

                                                                           

                                                                           

EQUITY AND LIABILITIES                                                     

Equity and reserves                                                        

Paid-in capital                      64 696    64 696     64 696     64 696

Reserves                              6 515     6 515      6 515      6 515

Retained earnings                 1 078 487   733 165  1 078 487    733 165

Total equity and reserves         1 149 698   804 376  1 149 698    804 376

                                                                           

                                                                           

Minority interest                       922       403          0          0

                                                                           

Non-current liabilities                                                    

Interest-bearing liabilities          9 582     1 791      9 582      1 791

Deferred tax liabilities                  0    65 084          0     64 848

Total non-current liabilities         9 582    66 875      9 582     66 639

                                                                           

Current liabilities                                                        

Trade payables                      164 679   158 984    149 401    156 276

Interest-bearing liabilities          2 399     5 355      2 399      5 355

Total current liabilities           167 079   164 339    151 800    161 632

                                                                           

Total equity and liabilities      1 327 282 1 035 993  1 311 081  1 032 647





Raul Kalev

PR-manager

6 460 220