NORMA

REPORT



CHANGES IN OWNERS EQUITY 06/00 (CONSOLIDATED)



Thousands of kroons



                             Share  Reserves Profit for  Profit    Total

                            capital           previous   for the  owners`

                                             accouting  financial eguity

                                             periods      year

                                                          

31.12.1998                  132 000  15 636    122 758    47 578  317 972

Net retained earnings of                        47 578   -47 578        0

1998

Dividends                                      -39 600            -39 600

Adjustment                                        -672               -672

Net profit for the                                       107 588  107 588

financial year

31.12.1999                  132 000  15 636    130 064   107 588  385 288



31.12.1999                  132 000  15 636    130 064   107 588  385 288

Net retained earnings of                       107 588  -107 588        0

1999

Dividends                                      -39 600            -39 600

Net profit for the                                        84 314   84 314

financial year

30.06.2000                  132 000  15 636    198 052    84 314  430 002





Peep Siimon

Chairman of the Board

6500-442