PRO KAPITAL

BALANCE SHEET



GROUP BALANCE SHEET, AS OF 30.06.2000



Consolidated

Unaudited

in EEK



                                                  30.06.2000  31.12.1999

ASSETS

Cash and bank                                         16,018       9,596

Marketable securities                                    450         400

Customer receivables                                 172,715      19,653

Other receivables                                     71,290      39,484

Accrued income                                           268         529

Prepaid expenses                                      88,873      13,687

Inventories                                          696,589     120,322

Total current assets                               1,046,202     203,671

Long-term financial assets                            69,454      29,320

Tangible assets                                      930,632     757,475

Intangible assets                                     78,660      50,715

Total noncurrent assets                            1,078,746     837,510



TOTAL ASSETS                                       2,124,948   1,041,181



LIABILITIES AND OWNER' S EQUITY

Debt obligations                                     131,986     103,402

Customer prepayments for goods and services          393,217      32,836

Supplier payables                                     64,281      40,953

Other payables

Tax liability                                         10,201       1,070

Accrued expenses                                      20,609       4,510

Total current liabilities                            620,294     182,771

Long-term debt obligations                           292,767     272,893

Other long-term payables                              16,183      16,183

Long-term provisions                                  25,129

Total noncurrent liabilities                         334,079     289,076

Minority interest                                    105,520      18,016

Share capital                                        348,084     225,000

Paid-in capital over/under par                       638,747     257,414

Restricted reserves                                   78,087      71,092

Retained earnings                                     -2,412      -5,213

Net profit/loss for the financial year                   841       2,801

Exchange differences                                   1,708         224

Total owners equity                                1,065,055     551,318



TOTAL LIABILITIES AND OWNER' S EQUITY              2,124,948   1,041,181





Ilona Saari

Management Board member

+372 614 4924