NORMA

REPORT



CONSOLIDATED CHANGES IN OWNERS` EQUITY AS OF  31.03.01



EEK  in thousands, unaudited

                        Share  Reser-  Profit    Profit   Total

                       capital ves  for previous for the  owners`

                                     accouting  financial  equity

                                       periods   year

                                                   

31.12.1999              132000 15636   130064   107588    385288

                           

Net retained earnings of              

1999                                   107588  -107588         0

Reassessment reserves          -2436     2436                  

                                 

Dividends                              -39600             -39600

Net profit for the                             

financial year                                  157449    157449

31.12.2000              132000 13200   200488   157449    503137

                              

Net retained earnings of               

2000                                   157449  -157449         0

Net profit for the                               

Q1 2001                                          48423     48423

31.03.2001              132000 13200   357937    48423    551560





Peep Siimon

Chairman of the Board

+372-6500-442