EESTI ÜHISPANK

INCOME STATEMENT



INCOME STATEMENTS, Q1/2000



EESTI ÜHISPANK, CONSOLIDATED INCOME STATEMENT

(Millions of EEK)                         31.03.00  31.12.99  31.03.99



Interest income                              259.5   1,238.4     367.4

Interest expenses                           -142.9    -720.0    -211.3

Net Interest Income                          116.5     518.4     156.1



Dividends                                      0.0       3.0       0.0

Profit/loss from

    investment securities                      0.2      31.9     -24.4

Net insurance income                           2.4       3.8       0.1

Net commission income                         49.2     209.5      40.9

    Fees & commisions received                61.3     304.3      62.3

    Fees & commissions paid                  -12.1     -94.8     -21.4

Dealing profits/losses                        21.8     137.9      60.5

    from dealing securities                    6.7      52.1      29.9

    from dealing in foreign currencies        15.1      85.8      30.6

Other operating income                        19.7      77.5      22.2

Non-interest Income                           93.4     463.5      99.3



Total Income                                 210.0     981.9     255.4



Personnel expenses                            57.1     284.0      73.5

Other administrative expenses                 33.0     236.9      61.3

Value adjustments of intangible and tangible

    fixed assets and depreciation             51.8     260.0      60.7

Other operating expenses                      23.2      42.7      14.2

Operating Expenses                           165.1     823.6     209.7



Operating Profit/Loss before Provisions       44.8     158.3      45.7



Value adjustments of advances

  and off-balance sheet items                 -7.1    -115.0     -20.5

    Provisions of credit instruments         -10.0    -148.2     -16.7

    Recoveries                                 2.9      45.6       4.1

    Other                                      0.0     -12.4      -7.9



Operating Profit/Loss                         37.7      43.2      25.2



Income/Loss from

subsidiaries (equity method)                     -         -         -

Value adjustments of investments               0.0     -10.5      -7.9

Income/loss from associates                    0.0       0.8      -0.4

Sale of associates and subsidiaries            0.0      68.2       0.0



Profit/Loss before Taxes                      37.7     101.7      16.9

Income tax                                     0.0       1.2       0.3

Profit/Loss after Taxes                       37.7     100.5      16.6

Minority interest (equity)                     0.8       0.3       1.9

Net Profit/Loss                               36.9     100.2      14.7







EESTI ÜHISPANK, INCOME STATEMENT, BANK

(Millions of EEK)                         31.03.00  31.12.99  31.03.99



Interest income                              238.1   1,056.4     307.2

Interest expenses                           -129.4    -630.7    -184.0

Net Interest Income                          108.8     425.7     123.2



Dividends                                      0.0       1.2       0.0

Profit/loss from

    investment securities                      0.0      31.0     -24.5

Net insurance income                           0.0         -         -

Net commission income                         45.3     160.0      31.0

    Fees & commisions received                56.6     237.1      46.4

    Fees & commissions paid                  -11.4     -77.1     -15.4

Dealing profits/losses                        22.5     120.7      48.0

    from dealing securities                    6.2      51.6      28.1

    from dealing in foreign currencies        16.2      69.1      19.9

Other operating income                         7.1      51.5       7.6

Non-interest Income                           74.8     364.3      62.1



Total Income                                 183.6     790.0     185.3



Personnel expenses                            47.9     212.5      54.0

Other administrative expenses                 33.5     204.8      41.0

Value adjustments of intangible and tangible

    fixed assets and depreciation             44.9     193.6      45.2

Other operating expenses                      15.2      13.4      11.0

Operating Expenses                           141.4     624.1     151.2



Operating Profit/Loss before Provisions       42.1     165.9      34.1



Value adjustments of advances

  and off-balance sheet items                 -9.9    -107.0      -6.2

    Provisions of credit instruments         -10.0    -115.4      -6.2

    Recoveries                                 0.1      21.3       0.0

    Other                                      0.0     -12.9       0.0



Operating Profit/Loss                         32.3      58.8      27.9



Income/Loss from

subsidiaries (equity method)                     -         -     -12.7

Value adjustments of investments               0.0      -1.3       0.0

Income/loss from associates                    0.0       0.8      -0.5

Sale of associates and subsidiaries            0.0      70.9       0.0



Profit/Loss before Taxes                      32.3     129.2      14.7

Income tax                                     0.0       0.0       0.0

Profit/Loss after Taxes                       32.3     129.2      14.7



Net Profit/Loss                               32.3     129.2      14.7





EESTI ÜHISPANK, INCOME STATEMENT, BANK

(Millions of EEK)                         31.03.00  31.12.99  31.03.99



Interest income                              238.1   1,056.4     307.2

Interest expenses                           -129.4    -630.7    -184.0

Net Interest Income                          108.8     425.7     123.2



Dividends                                      0.0       1.2       0.0

Profit/loss from

    investment securities                      0.0      31.0     -24.5

Net insurance income                           0.0         -         -

Net commission income                         45.3     160.0      31.0

    Fees & commisions received                56.6     237.1      46.4

    Fees & commissions paid                  -11.4     -77.1     -15.4

Dealing profits/losses                        22.5     120.7      48.0

    from dealing securities                    6.2      51.6      28.1

    from dealing in foreign currencies        16.2      69.1      19.9

Other operating income                         7.1      51.5       7.6

Non-interest Income                           74.8     364.3      62.1



Total Income                                 183.6     790.0     185.3



Personnel expenses                            47.9     212.5      54.0

Other administrative expenses                 33.5     204.8      41.0

Value adjustments of intangible and tangible

    fixed assets and depreciation             44.9     193.6      45.2

Other operating expenses                      15.2      13.4      11.0

Operating Expenses                           141.4     624.1     151.2



Operating Profit/Loss before Provisions       42.1     165.9      34.1



Value adjustments of advances

  and off-balance sheet items                 -9.9    -107.0      -6.2

    Provisions of credit instruments         -10.0    -115.4      -6.2

    Recoveries                                 0.1      21.3       0.0

    Other                                      0.0     -12.9       0.0



Operating Profit/Loss                         32.3      58.8      27.9



Income/Loss from

subsidiaries (equity method)                     -         -     -12.7

Value adjustments of investments               0.0      -1.3       0.0

Income/loss from associates                    0.0       0.8      -0.5

Sale of associates and subsidiaries            0.0      70.9       0.0



Profit/Loss before Taxes                      32.3     129.2      14.7

Income tax                                     0.0       0.0       0.0

Profit/Loss after Taxes                       32.3     129.2      14.7



Net Profit/Loss                               32.3     129.2      14.7





Urmas Neetar

head of reporting dept.

+372 6 656 390