FAKTO

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 31.03.00



Consolidated, unaudited

in thousand EEK



Assets                                       AS Fakto        Group

Current assets                          31.03.00 31.03.99 31.03.00 31.03.99



Cash and bank                                273      261    3,686    6,320



Customer receivables

Accounts receivable                        5,889    4,829   15,760   18,828

Allowance for doubtful accounts             -464     -368   -1,030   -1,836

Total customer receivables                 5,425    4,461   14,729   16,992



Other receivables

Receivables from subsidiaries and          8,407   10,483        0        0

parent company

Other current receivables                  6,060    3,086    7,233    7,484

Total other receivables                   14,468   13,569    7,233    7,484



Accrued income

Calculated interests                           3        9       32      125

Total accrued income                         132    1,303       32      125



Prepaid expenses and prepaid taxes

Prepaid/refundable tax receivables         1,183      974    4,226    3,322

Prepaid expenses                             445      379      269      457

Total prepaid expenses and                 1,628    1,353    4,495    3,779

prepaid/refundable tax receivables



Inventories

Raw materials                                 10       11       10       11

Work-in-progress                             128      239      128      239

Merchandise purchased for resale           5,422    5,421   25,825   34,547

Prepayments to suppliers                       0        0      121      225

Total inventories                          5,560    5,671   26,084   35,022



Total current assets                      27,485   26,617   56,259   69,723



Non-current assets

Long-term financial assets

Stock and shares in subsidiaries           7,138    9,481        0        0

Goodwill                                     823    1,202      823    1,202

Stock and shares in associated companies       0      400        0      400

Other non-current receivables              4,000        0    3,227    6,831

Total long-term financial assets          11,961   11,083    4,050    8,433



Tangible assets

Land and building                         47,404   47,404   72,408   72,074

Plant and equipment                        7,437    8,007   16,167   15,084

Other equipment and fixtures               2,315    2,190    6,721    6,714

Accumulated depreciation                 -19,434  -16,760  -26,053  -21,461

Total tangible assets                     37,722   40,840   69,243   72,411



Intangible assets

Purchased  patents, licenses,                183      117      516      345

trademarks, etc.

Total intangible assets                      183      117      516      345



Total non-current assets                  49,866   52,040   73,810   81,189



Total assets                              77,351   78,658  130,069  150,912



Liabilities and owners' equity

                                       AS Fakto             Group

Current liabilities                    31.03.00 31.03.99 31.03.00 31.03.99





Short-term borrowings

Current period repayment                   1,650    1,644    3,666    3,660

of long-term debt

Short-term loans from                      4,202    8,636    8,502    8,857

financial institutions

Debentures                                    31      109    4,024    4,434

Total short-term borrowings                5,884   10,389   16,193   16,951



Customer prepayments                       1,756      620    2,938    1,293



Supplier payables                         18,777   11,780   33,365   44,732



Tax liabilities                            2,895    4,282    3,701    5,971



Accrued expenses

Salary-related accrued expenses            1,756    1,440    3,045    2,541

Dividends payable                            165        0      235      697

Interest payable                              48       79    1,954    1,977

Other accrued expenses                       141      219      875      234

Total accrued expenses                     2,109    1,738    6,109    5,449



Short-term provisions                          0        0    1,439      441



Total current liabilities                 31,420   28,808   63,744   74,836



Non-current liabilities



Long-term borrowings

Non-convertible long-term debt                 0      163    1,714      163

Bank loans                                13,200   11,644   25,823   27,050

Other long-term borrowings from               40        0    3,223    7,357

credit institutions

Total long-term borrowings                13,240   11,806   30,760   34,570



Other long-term debt obligations

Deferred income tax liability                  0    2,255        0    2,294

Total other long-term debt                     0    2,255        0    2,294



Total non-current liabilities             13,240   14,061   30,760   36,864



Total liabilities                         44,660   42,869   94,504  111,701



Minority interest                              0        0    2,874    3,423



Owners' equity

Share capital in nominal value            16,501   16,501   16,501   16,501

Capital surplus                            7,307    7,307    7,307    7,307

Restricted reserves                          767      502      767      502

Retained earnings                          9,822   11,741    9,822   11,741

Profit/loss for the financial year        -1,705     -263   -1,705     -263

Total owners' equity                      32,691   35,788   32,691   35,788



Total liabilities and owners' equity      77,351   78,658  130,069  150,912





Toivo Urva

Management Board Chairman

+372 6 389 200