BALTIKA

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, 30.06.2001



Consolidated, unaudited

thousand EEK

					   30.06.2001 31.12.2000

ASSETS                                     

CURRENT ASSETS

Cash and bank                                   4,682     15,298

Marketable securities                             512        431

Customer receivables                           43,624     45,335

Other receivables and prepaid expenses          9,720      9,222

Inventories                                   113,632    105,501

TOTAL CURRENT ASSETS                          172,170    175,787

NON-CURRENT ASSETS

Long-term financial assets                      1,951        817



Tangible assets                                61,531     54,746

Intangible assets                               2,462      1,886

TOTAL NON-CURRENT ASSETS                       65,944     57,449

TOTAL ASSETS                                  238,114    233,236



LIABILITIES AND OWNERS' EQUITY

CURRENT LIABILITIES

Debt obligations                               48,133     51,637

Customer prepayments                              109        732

Supplier payables                              25,153     28,617

Other tax liabilities                           4,702      6,167

Accrued expenses                                4,281      7,622

Current provisions                                120        120

TOTAL CURRENT LIABILITIES                      82,498     94,895

NON-CURRENT LIABILITIES

Long-term liabilities                          16,532      1,344

TOTAL NON-CURRENT LIABILITIES                  16,532      1,344

TOTAL LIABILITIES                              99,030     96,239

Minority interest                               6,033      9,172

OWNERS' EQUITY                                133,051    127,825

Share capital in nominal value                 48,000     48,000

Capital surplus                                24,910     24,910

Restricted reserves                            22,885     22,885

Retained earnings                              28,430     17,768

NET PROFIT FOR THE FINANCIAL YEAR               8,826     14,262

TOTAL LIABILITIES AND OWNERS' EQUITY          238,114    233,236





Ülle Järv

Management Board member

+372 630 2741