KLEMENTI

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, 31.03.2000



consolidated, unaudited

in thousand EEK

                                          31.03.00  31.12.99  31.03.99

ASSETS



CURRENT ASSETS

1.Cash and bank                              3,572     4,458     3,029

2.Accounts receivable                       12,978    10,365     8,937

3.Other receivables and accrued income         796     1,752     1,124

4.Prepaid expenses                           1,513     1,461     1,076

5.Inventories                               26,847    25,258    31,735

5.1.Raw materials                            4,470     4,893     5,930

5.2.Work-in-progress                         3,331     6,405     5,826

5.3.Finished goods                          18,238    12,848    19,695

5.4.Merchandise purchased for resale           906       695       643

5.5.Prepayments to suppliers                    63       417       342

5.6.Reserve for revaluation and               -161        -       -701

write-off of inventories

TOTAL CURRENT ASSETS                        45,706    43,294    45,901

NON-CURRENT ASSETS

6.Long-term financial assets                    52        52       205

7.Tangible assets                           37,510    34,244    30,973

7.1.Land and buildings                      32,612    28,640    27,010

7.2.Plant and equipment                     16,535    16,713    13,557

7.3.Other inventory                          5,597     5,343     4,765

7.4.Accumulated depreciation               -17,449   -16,832   -15,124

7.5.Fixed assets under construction            189       380       765

7.6.Prepayments for tangible assets             26        -         -

8.Intangible assets                          2,077     1,371     1,982

Total non-current assets                    39,639    35,667    33,160

TOTAL ASSETS                                85,345    78,961    79,061



LIABILITIES AND OWNERS' EQUITY

Current liabilities

9.Debt obligations                          18,870    16,717    13,115

10.Customer prepayments for                    635        27     1,550

goods and services

11.Supplier payables                         3,013     4,426     3,072

12.Other payables                               31        -         -

13.Tax liabilities                           4,014     4,582     4,786

14.Accrued expenses                          4,592     2,957     4,588

Total current liabilities                   31,155    28,709    27,111

Non-current liabilities

15.Long-term debt obligations               19,136    13,116    16,064

16.Other long-term payables                  2,450     2,450        -

17.Long-term provisions                         -         -         42

Total non-current liabilities               21,586    15,566    16,106

Total liabilities                           52,741    44,275    43,217



Owners' equity

18.Share capital                            24,250    24,250    24,250

19.Capital surplus                           3,774     3,774     3,774

20.Revaluation reserve                         816       816       816

21.Other restricted reserves                   863       863       863

22.Retained earnings                         4,983     7,778     7,778

23.Net profit for the financial year        -2,082    -2,795    -1,637

Total owners' equity                        32,604    34,686    35,844

TOTAL LIABILITIES AND OWNERS' EQUITY        85,345    78,961    79,061





AS KLEMENTI parent company

                                          31.03.00  31.12.99  31.03.99

ASSETS



CURRENT ASSETS

1.Cash and bank                              2,916     3,820     2,477

2.Accounts receivable                       12,129     9,185     8,560

4.Prepaid expenses                           1,299     1,237       472

5.Inventories                               22,163    21,330    25,820

5.1.Raw materials                            3,112     3,786     4,182

5.2.Work-in-progress                         2,815     6,354     4,782

5.3.Finished goods                          15,637    10,248    17,219

5.4.Merchandise purchased for resale           735       548       325

5.5.Prepayments to suppliers                    25       394        13

5.6.Reserve for revaluation and               -161        -       -701

write-off of inventories

TOTAL CURRENT ASSETS                        40,405    38,616    38,762

NON-CURRENT ASSETS

6.Long-term financial assets                 4,225     4,545     4,513

7.Tangible assets                           36,675    33,501    30,692

7.1.Land and buildings                      32,612    28,640    27,010

7.2.Plant and equipment                     15,679    15,711    13,176

7.3.Other inventory                          5,267     5,124     4,549

7.4.Accumulated depreciation               -17,098   -16,354   -14,808

7.5.Fixed assets under construction            189       380       765

7.6.Prepayments for tangible assets             26        -         -

8.Intangible assets                          1,906     1,174     1,702

Total non-current assets                    42,806    39,220    36,907

TOTAL ASSETS                                83,211    77,836    75,669



LIABILITIES AND OWNERS' EQUITY

Current liabilities

9.Debt obligations                          18,403    16,050    12,315

10.Customer prepayments for                     -         -          2

goods and services

11.Supplier payables                         1,893     3,990     2,232

12.Other payables                              818       638       908

13.Tax liabilities                           3,594     4,092     4,051

14.Accrued expenses                          4,257     2,730     4,235

Total current liabilities                   28,965    27,500    23,743

Non-current liabilities

15.Long-term debt obligations               19,136    13,116    16,064

16.Other long-term payables                  2,450     2,450        -

Total non-current liabilities               21,586    15,566    16,064

Total liabilities                           50,551    43,066    39,807



Owners' equity

17.Share capital                            24,250    24,250    24,250

18.Capital surplus                           3,774     3,774     3,774

19.Revaluation reserve                         816       816       816

20.Other restricted reserves                   863       863       863

21.Retained earnings                         5,067     7,780     7,780

22.Net profit for the financial year        -2,110    -2,713    -1,621

Total owners' equity                        32,660    34,770    35,862

TOTAL LIABILITIES AND OWNERS' EQUITY        83,211    77,836    75,669





Tiiu Tammots

Chief accountant

+372 6 710 708