EESTI TELEKOM

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, Q1 2000



In thousands EEK

                            3 mths to   3 mths to         1999

                          31 March 00 31 March 99

Revenue                                            

Net sales                     929 023     812 027    3 568 523

Change in work-in-               -285         175         -994

progress

Other revenue                  10 380       6 733       27 714

Total revenue                 939 118     818 935    3 595 243

                                                              

Operating expenses                                            

Materials, consumables,       203 204     183 385      837 516

supplies and services

Other operating expenses       97 104      98 211      385 029

Personnel expenses            115 560     109 262      466 208

Other expenses                 20 335      22 215       70 156

Total expenses                436 203     413 073    1 758 909

                                                              

Profit from operations        502 915     405 862    1 836 334

before depreciation

                                                              

Depreciation,                 247 362     213 215      881 059

amortisation and value

adjustments of current

assets

                                                              

Profit from operations        255 553     192 647      955 275

                                                              

Income from subsidiaries         -103         146          648

and associated companies

Other net financing items      -8 405     -16 854      -51 040

                                                              

Profit before tax             247 045     175 939      904 883

                                                              

Income tax expenses (-) /           0     -30 860     -156 266

income (+)

                                                              

Profit after tax              247 045     145 079      748 617

                                                              

Minority interest               1 432      81 311       83 158

                                                              

Net profit from ordinary      245 613      63 768      665 459

activities

                                                              

Extraordinary item                  0           0       85 197

                                                              

Net profit for the period     245 613      63 768      580 262

                                                              

Earnings per share                                            

Basic earnings per share         1,79        0,87         4,78

(in kroons)

Diluted earnings per             1,79        0,87         4,78

share (in kroons)





Raul Kalev

PR-manager

+372 6460 220