PRO KAPITAL

BALANCE SHEET



GROUP BALANCE SHEET, AS AT 30.09.2000



Consolidated

Unaudited

in thousand EEK



                                                   30.09.2000  31.12.1999

ASSETS

Cash and bank                                          31,364       9,596

Marketable securities                                     449         400

Customer receivables                                  182,891      19,653

Other receivables                                      59,973      39,484

Accrued income                                            268         529

Prepaid expenses                                       79,728      13,687

Inventories                                           712,272     120,322

Total current assets                                1,066,945     203,671

Long-term financial assets                             89,234      29,320

Tangible assets                                       951,482     757,475

Intangible assets                                      80,277      50,715

Total noncurrent assets                             1,120,993     837,510



TOTAL ASSETS                                        2,187,938   1,041,181





LIABILITIES AND OWNER' S EQUITY

Debt obligations                                      122,225     103,402

Customer prepayments for goods and services           423,618      32,836

Supplier payables                                      75,894      40,953

Tax liability                                          10,470       1,070

Accrued expenses                                       27,810       4,510

Total current liabilities                             660,017     182,771

Long-term debt obligations                            313,375     272,893

Other long-term payables                               17,483      16,183

Long-term provisions                                   19,958

Total noncurrent liabilities                          350,816     289,076

Minority interest                                     105,811      18,016

Share capital                                         348,084     225,000

Paid-in capital over/under par                        638,747     257,414

Restricted reserves                                    78,082      71,092

Retained earnings                                      -2,412      -5,213

Net profit/loss for the financial year                  5,584       2,801

Exchange differences                                    3,209         224

Total owners equity                                 1,071,294     551,318



TOTAL LIABILITIES AND OWNER' S EQUITY               2,187,938   1,041,181





Ilona Saari

Management Board member

+372 614 4924