XXL.EE

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 31.03.2001



Consolidated, unaudited

in thousand EEK

                                           31.03.2001 31.12.2000

                                      Note

ASSETS

Cash and bank                                     615         35

Marketable securities                           4,636      3,847

Customer receivables                              914        435

Other receivables                      3        1,012        181

Accrued income                                    138         99

Prepaid expenses                                1,167        890

Inventories                                     1,315      1,282

Total current assets                            9,796      8,769



Other non-current receivables                     108        108

Tangible assets                                 3,912      3,773

Accumulated depreciation                       -1,213       -980

Intangible assets                               1,450        223

Total non-current assets               4        4,257      3,124

Total assets                                   14,053     11,893



Liabilities and owners' equity

Debt obligations                       2       11,182      8,843

Customer prepayments                               18         18

Supplier payables                               1,750      1,187

Tax liabilities                                 2,264      1,448

Accrued expenses                                1,021        993

Other prepaid revenues                             20         33

Total current liabilities                      16,255     12,522

Long-term debt liabilities                        236

Total non-current liabilities                     236

Total liabilities                              16,491

Minority interest

Share capital                                  25,000     25,000

Capital surplus                                19,006     19,006

Mandatory reserve capital                         767        767

Unrealised exchange difference                    -91        -39

Retained earnings                             -45,445    -34,685

Profit/loss for the financial year             -1,675    -10,749

Total owners' equity                           -2,438       -700

Total liabilities and owners' equity           14,053     11,822





Arho Anttila

CEO

+372 6 507 500