FAKTO

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 30.06.00



Consolidated, unaudited

in thousand EEK



Assets                                            AS Fakto          Group

Current assets                              30.06.00 30.06.99 30.06.00 30.06.99



Cash and bank                                    660      378    5,808    2,021



Customer receivables

Accounts receivable                            5,973    7,621   21,952   16,831

Allowance for doubtful accounts (less)          -464     -368   -1,043     -866

Total customer receivables                     5,509    7,254   20,909   15,965



Other receivables

Receivables from subsidiaries and              8,467    6,594        0        0

parent company

Other current receivables                      6,344    5,982    8,385    7,747

Total other receivables                       14,811   12,576    8,385    7,747



Accrued income

Calculated interests                               1        3       26       55

Total accrued income                               1        3       26       55



Prepaid expenses and prepaid tax receivables

Prepaid tax receivables                        1,508    1,138    5,311    3,002

Prepaid expenses                                 402      407      461      409

Total prepaid expenses                         1,910    1,545    5,773    3,411



Inventories

Raw materials                                     10       12       10       12

Work-in-progress                                 214      284      214      284

Merchandise purchased for resale               5,400    5,627   27,882   26,671

Prepayments to suppliers                           0        0      425      357

Total inventories                              5,624    5,923   28,531   27,324



Total current assets                          28,515   27,679   69,432   56,523



Non-current assets

Long-term financial assets

Stock and shares in subsidiaries               6,690    7,899        0        0

Goodwill                                         728    1,107      728    1,107

Stock and shares in associated companies         100        0      100        0

Other non-current receivables                  4,000        0    2,587    6,023

Total long-term financial assets              11,518    9,006    3,415    7,131



Tangible assets

Land and building                             47,404   47,404   72,414   72,078

Plant and equipment                            7,437    7,922   15,820   15,164

Other equipment and fixtures                   2,604    2,253    7,041    6,860

Accumulated depreciation (less)              -20,015  -17,625  -26,353  -23,086

Total tangible assets                         37,430   39,953   68,921   71,016



Intangible assets

Purchased  patents, licenses etc.                167      109      474      408

Total intangible assets                          167      109      474      408



Total non-current assets                      49,115   49,068   72,810   78,555



Total assets                                  77,630   76,747  142,241  135,078



Liabilities and owners' equity



Current liabilities



Short-term borrowings

Current period repayment of long-term debt     2,200    2,192    3,544    3,536

Short-term loans from financial institution    2,928    4,692    5,628    4,878

Debentures                                        58       87    3,333    4,459

Total short-term borrowings                    5,186    6,971   12,505   12,873



Customer prepayments                           2,604    1,913    2,878    2,681



Supplier payables                             19,548   18,550   48,478   39,702



Tax liabilities                                3,415    2,768    4,773    3,559



Accrued expenses

Salary-related accrued expenses                2,035    1,554    3,571    2,858

Dividends payable                                  0        0       70      697

Interest payable                                  43       32    3,306    1,626

Other accrued expenses                           115      223      116      486

Total accrued expenses                         2,193    1,808    7,064    5,667



Short-term provisions                              0        0    1,539      441



Total current liabilities                     32,947   32,010   77,237   64,922



Non-current liabilities

Long-term borrowings

Non-convertible long-term debt                     0       58    1,867       58

Bank loans                                    12,100   10,548   24,723   25,936

Other long-term borrowings                         0        0    2,649    6,620

from financial institutions

Total long-term borrowings                    12,100   10,606   29,239   32,614



Other long-term debt obligations

Deferred income tax liability                      0    2,204        0    2,266

Total other long-term debt                         0    2,204        0    2,266



Total non-current liabilities                 12,100   12,809   29,239   34,880



Total liabilities                             45,047   44,819  106,476   99,802



Minority interest                                  0        0    3,182    3,348



Owners' equity

Share capital in nominal value                16,501   16,501   16,501   16,501

Capital surplus                                7,307    7,307    7,307    7,307

Restricted reserves                              808      767      808      767

Retained earnings                              9,769    9,167    9,769    9,167

Profit/loss for the financial year            -1,802   -1,813   -1,802   -1,813

Total owners' equity                          32,583   31,928   32,583   31,928



Total liabilities and owners' equity          77,630   76,747  142,241  135,078





Toivo Urva

Management Board Chairman

+372 63 89 222