HARJU ELEKTER

ANNOUNCEMENT



CONSOLIDATED BALANCE SHEET, 30.06.2000



Consolidated/unaudited

in thousand EEK                                Group            Parent

                                            30.06.00 30.06.99 30.06.00 30.06.99

ASSETS

Cash, bank, securities                         6,956   16,658    6,198   15,861

Marketable securities                            549      489      549      489

Total customer receivables                    19,184    8,649   14,024    7,488

Other current receivables                      2,281    4,215    7,377    4,789

Accrued income                                    41                41

Prepaid expenses                               4,323      544    1,935      544

Total current receivables                     25,788   13,449   23,336   12,861

Inventories                                   18,972   14,929   13,004   13,072

Goods                                          3,652    3,462    3,529    3,201

Prepayments to suppliers                           0      425               425

Total inventories                             22,625   18,816   16,533   16,698

TOTAL CURRENT ASSETS                          55,918   49,412   46,617   45,909

Stock and shares in subsidiaries                   0        0    5,363    4,199

Other receivables from subsidiaries                0        0      252      465

Stock and shares in associated companies      15,646   17,028   15,646   17,028

Other shares                                   1,554    1,554    1,554    1,554

Other long-term receivables                      517      465      517      434

Total financial investments                   17,717   19,047   23,332   22,974

Plant and equipment                           64,508   37,205   64,386   37,205

Other equipment and fixtures                  37,588   25,909   23,352   20,521

Other inventory                                2,975    1,834    2,437    1,552

Accumulated depreciation                     -21,634  -16,711  -19,704  -15,455

Unrealized capital investments                 1,344    6,893    1,344    6,901

Prepayments for fixed assets                      59      564       59      564

Total tangible assets                         84,840   55,694   71,874   51,289

Goodwill                                         256        0        0        0

Licenses                                         477      353      477        0

Total intangible assets                          733      353      477        0

TOTAL NON-CURRENT ASSETS                     103,291   75,094   95,683   74,263

TOTAL ASSETS                                 159,208  124,506  142,300  120,878



LIABILITIES AND OWNERS' EQUITY

Debt obligations

Debentures                                     2,416      321        0        0

Current period repayment of long-term loans    4,171    2,934    4,171    2,934

Short-term loans from financial institutions   5,073    1,091    2,901    1,091

TOTAL DEBT OBLIGATIONS                        11,661    4,346    7,072    4,025

Customer prepayments                             493      142      492      142

Supplier payables                             13,203    5,201    9,997    4,568

Other short-term borrowings                      793       21      989       21

Tax liabilities                                5,226    4,549    4,803    4,190

Accrued expenses                               4,649    3,236    3,878    2,840

TOTAL CURRENT LIABILITIES                     36,023   17,495   27,231   15,785

Non-convertible debt                             748    1,361        0        0

Long-term bank loan                           25,913   26,270   18,544   26,270

Deferred income tax liability                      0    3,051        0    2,495

TOTAL NON-CURRENT LIABILITIES                 26,661   30,683   18,544   28,765

TOTAL LIABILITIES                             62,684   48,178   45,776   44,551

Share capital                                 54,000   18,000   54,000   18,000

Restricted reserves                            3,610    3,610    3,610    3,610

Retained earnings                             24,864   44,169   24,864   44,169

Net profit for the year                       14,050   10,549   14,050   10,548

TOTAL OWNERS' EQUITY                          96,524   76,328   96,524   75,621

TOTAL LIABILITIES AND OWNERS' EQUITY         159,208  124,506  142,300  120,878





Karin Padjus

Chief Accountant

+372 67 47 403