EESTI TELEKOM

REPORT



ESTONIAN TELECOM, UNAUDITED EQUITY OF 2000



ESTONIAN TELECOM AND SUBSIDIARY COMPANIES

STATEMENT OF CHANGES IN EQUITY (Unaudited)



Financial statements are prepared in thousands of kroons



                                          2000       1999

                                                

Issued capital                                  

                                                

137 383 178 ordinary shares at EEK   1,373,832  1,373,832

10.00 per share, fully paid

1 preferential share at EEK                  1          1

1000.00 per share, fully paid

Total                                1,373,833  1,373,833

                                                

Share premium                                   

Opening balance                        309,964      4,525

Premium on ordinary shares issued            0    305,439

Closing balance                        309,964    309,964

                                                

Legal reserves                                  

Opening balance                         56,851     25,478

Amounts transferred from                68,112     31,373

accumulated profits

Closing balance                        124,963     56,851

                                                

Accumulated profits                             

Opening balance                      1,279,120    821,731

Adjustments to opening accumulated     -54,265    -28,743

profits

Net profit for the period            1,175,896    580,262

Amounts transferred to legal           -68,112    -31,373

reserves

Dividends paid                        -549,543    -62,757

Tax on dividends                           -57          0

Closing balance                      1,783,040  1,279,120





Hille Võrk

Financial Manager

6 272 460