XXL.EE

BALANCE SHEET



CONSOLIDATED UNAUDITED BALANCE SHEET, AS AT 31.12.2000



in thousand EEK





                                                   31.12.2000 31.12.1999

ASSETS

Cash and bank                                              35        167

Marketable securities                                   3,847      1,020

Customer receivables                                      435      4,076

incl. accounts receivable                                 447      7,579

Allowance for doubtful accounts                           -12     -3,503

Other receivables                                       2,181      9,811

incl.receivables from subsidiaries

Receivables from associated companies

Other current receivables                               2,181      9,811

Accrued income                                             98         18

incl.interest receivables                                   4         18

Other accrued income                                       95

Prepaid expenses                                          890      2,384

incl.Prepaid/refundable tax receivables                   641      2,000

Other prepaid expenses                                    249        384

Inventories                                             1,282      1,067

incl.raw materials

finished goods

merchandise purchased for resale                        1,243        954

prepayments to suppliers                                   39        113

Total current assets                                    8,770     18,543



Long-term financial assets                                108      5,377

incl.stock and shares in subsidiaries                       0

Stock and shares in associated companies                    0

Non-current receivables from subsidiaries                   0

Other non-current receivables                             108      5,377

Tangible assets                                         2,793      1,326

incl.land and building                                               357

Plant and equipment                                       571        575

Other equipment and fixtures                            3,202      1,395

Accumulated depreciation                                 -980     -1,001

Fixed assets under construction

Prepayments for non-current assets

Intangible assets                                         223      2,061

incl.concessions, patents, trademarks, etc.             2,061

Total non-current assets                                3,123      8,764

Total assets                                           11,893     27,307



Liabilities and owners' equity

Debt obligations                                        8,843     25,096

incl.Debentures (except bank loans)                   1,639        2,871

Current period long-term debt repayment                     0      2,210

Short-term loans from financial institutions            7,204     20,015

Customer prepayments                                       18         61

Supplier payables                                       1,187      5,623

incl. accounts payable                                  1,187      5,623

Other payables                                              0          0

incl.payables to subsidiaries                               0

Tax liabilities                                         1,448        279

Accrued expenses                                          993        822

incl.salary-related accrued expenses                      553        226

Interest payable                                          125         69

Other accrued expenses                                    315        527

Other prepaid revenues                                     33        338

Total current liabilities                              12,521     32,219



Long-term debt liabilities                                  0          0

incl.non-convertible long-term debt

Long-term bank loans

Deferred income tax liability

Total non-current liabilities                               0          0

Total liabilities                                      12,521     32,219



Minority interest                                          72



Share capital in nominal value                         25,000     20,000

Paid in share capital

Capital surplus                                        19,006     19,006

Unrealised exchange difference                            -39

Mandatory reserve capital                                 767        767

Retained earnings                                     -34,685      9,178

Profit/loss for the financial year                    -10,749    -53,863

Total owners' equity                                     -700     -4,912

Total liabilities and owners' equity                   11,893     27,307





Arho Anttila

CEO

+372 6 507 500