NORMA

BALANCE SHEET



PARENT COMPANY BALANCE SHEET 09/00



(EEK 000'), unaudited

                                       30.09.2000  31.12.1999



A s s e t s

Current Assets

  Cash and Bank Accounts                  151 263     89 129

  Marketable Securities                   103 541     58 143

  Accounts Receivable                     105 123    118 837

  Allowance for Doubtful Rreceivable       -8 609    -14 491

  Other Receivables and Prepayments        10 361     10 617

  Inventories                              47 906     49 578

Total Current Assets                      409 585    311 813

Non-current Assets

  Long-term Financial Assets               69 584     90 360

  Property, Plant and Equipment            88 365     91 937

  Intangible Assets                           365        870

Total Non-current Assets                  158 314    176 812

Total Assets                              567 899    494 980

                                                        

L i a b i l i t i e s  and  S h a r e h o l d e r s'  E q u i t y

Liabilities

Current Liabilities

  Accounts Payable and Accrued             52 752     56 041

Expenses

  Short-term Loans                         13 320     26 656

Total Current Liabilities                  66 072     82 697

Long-term Liabilities

  Non-current Loans                        26 672     26 672

Total Non-current Liabilities              26 672     26 672

Total liabilities                          92 744    109 369

Owners` Equity

  Share Capital (par value)               132 000    132 000

  Retained Earnings and Reserves          213 688    146 023

  Net Profit                              129 467    107 588

Total Owners' Equity                      475 155    385 611

Total Liabilities and Owners' Equity      567 899    494 980





Peep Siimon

Chairman of the Board

+372-6500-442