SAKU ÕLLETEHAS

BALANCE SHEET



UNCONSOLIDATED BALANCE SHEET, AS OF 30.06.2000



in thousand EEK

                                     Parent**     Parent   Parent**     Parent

                                                          corrected  corrected

                                   30.06.2000 31.12.1999 30.06.1999 31.12.1998

ASSETS



Cash and bank                           9,827     28,134     16,123     23,560

Marketable securities                   3,958      5,021      6,763

Customer receivables                   47,858     31,864     54,908     23,876

Other receivables and prepayments       6,607     29,871      9,015     36,798

Inventories                            74,489     61,354     61,996     56,305

TOTAL CURRENT ASSETS                  142,739    156,244    148,805    140,539



NON-CURRENT ASSETS

Long-term financial assets                311        171      2,005      3,957

Long-term recivables                      784

Tangible assets                       224,318    193,027    197,495    172,802

TOTAL NON-CURRENT ASSETS              225,413    193,198    199,500    176,759



TOTAL ASSETS                          368,152    349,442    348,305    317,298



LIABILITIES AND OWNERS' EQUITY



CURRENT LIABILITIES

Supplier payables                      33,702     15,510     35,728      8,600

Payables to parent company              2,877      1,240        113      1,169

Tax liabilities                        13,122      7,815     15,364     12,782

Salary-related accrued expenses         2,874      5,416      4,186      4,199

Other accrued expenses                  2,090        590      3,954        572

TOTAL CURRENT LIABILITIES              54,665     30,571     59,345     27,322



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                     142,176    125,906    125,906    114,209

Net profit for the year                39,241     60,895     30,984     43,697

TOTAL OWNERS' EQUITY                  313,487    318,871    288,960    289,976



TOTAL LIABILITIES AND OWNERS' EQUITY  368,152    349,442    348,305    317,298

** - unaudited





Ruth Roht

Public Relations Manager

+372 6 508 303