Hüvitusfond                   BALANCE SHEET                     03/05/2002



UNAUDITED BALANCE SHEET AS AT 31.12.2001



Unaudited

Th. EEK/EURO



ASSETS	                   31.12.2001 31.12.2001 31.12.2000 31.12.2000

	                          EEK	    EURO	EEK	  EURO



1. Cash and bank accounts     267,882	  17,121     75,255	 4,810

2. Trading securities	       72,644	   4,643     59,196	 3,783

3. Loans and other            227,831	  14,561    272,707	17,429

receivables

4. Investment securities      530,451	  33,902    812,497	51,928

5. Investments in 	      232,774	  14,877    236,510	15,116

subsidiaries

6. Tangible assets	        1,329	      85      2,600	   166

7. Intangible assets 	            6	       0	 24	     2

8. Other assets	               28,808	   1,841     36,142	 2,310

Total assets	            1,361,725	  95,543  1,494,931	95,543

				

LIABILITIES AND OWNER’S EQUITY				

Liabilities				

9. Obligations issued 	      242,478	  15,497    424,511	27,131

to the public

10. Other liabilities	        9,559	     611     25,980	 1,660

11. Reserves	                2,031	     130	  0	     0

Total liabilities	      254,068	  16,238    450,491	28,792

Owner’s equity				

12. State’s capital	    1,626,243	 103,936  1,445,578	92,389

13. Retained earnings	     -581,802	  37,184   -419,082    -26,784

14. Profit from the 	       63,217	   4,040     17,944	 1,147

current accounting period

Total owner’s equity	    1,107,657	  70,792  1,044,440	66,752

Total liabilities 	    1,361,725	  87,030  1,494,931	95,543

and owner’s equity





Jaanus Kosemaa

head of public relations

6651800, 05104614