SAKU ÕLLETEHAS

BALANCE SHEET



GROUP BALANCE SHEET, AS OF 31.03.2000



in thousand EEK

                                  Group*     Group    Group*     Group

                                                   corrected corrected

                                31.03.00  31.12.99  31.03.99  31.12.98

ASSETS

Cash and bank (appendix 2)        47,990    28,176    25,589    25,329

Marketable securities (app. 3)     5,021     5,021

Customer receivables (app. 4)     29,606    32,191    26,376    25,022

Other receivables and              6,256    29,624    35,137    34,218

prepayments (appendix 5)

Inventories (appendix 6)          66,960    61,354    73,593    56,576

TOTAL CURRENT ASSETS             155,833   156,366   160,695   141,145



NON-CURRENT ASSETS

Long-term financial                   37        71     3,532     3,543

assets (appendix 7)

Tangible assets (appendix 8)     200,036   193,027   179,597   172,802

TOTAL NON-CURRENT ASSETS         200,073   193,098   183,129   176,345



TOTAL ASSETS                     355,906   349,464   343,824   317,490



LIABILITIES AND OWNERS' EQUITY

CURRENT LIABILITIES

Supplier payables                 21,964    15,510    26,367     8,600

Payables to parent company         1,900     1,240       113     1,169

Tax liabilities (appendix 9)       7,729     7,815    14,146    13,022

Salary-related accrued expenses    2,139     5,416     3,111     4,221

Other accrued expenses                         612     3,111       616

TOTAL CURRENT LIABILITIES         33,732    30,593    46,848    27,628



Share capital                     80,000    80,000    80,000    80,000

Mandatory legal reserve            8,000     8,000     8,000     8,000

Other restricted reserves         44,070    44,070    44,070    44,070

Retained earnings                186,801   125,792   157,792   114,095

Net profit for the year            3,303    61,009     7,114    43,697

TOTAL OWNERS' EQUITY             322,174   318,871   296,976   289,862



TOTAL LIABILITIES AND OWNERS'    355,906   349,464   343,824   317,490

EQUITY



* - consolidated, unaudited





Ruth Roht

Public Relations Manager

+372 6 508 303