RAKVERE LIHAKOMBINAAT

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.06.2001



Consolidated, unaudited

in thousand EEK                           30.06.01  31.12.00



ASSETS



Current assets

Cash and bank                                4,613     3,432

Customer receivables                        78,682    71,727

Other current receivables                    6,526    14,599

Inventories                                155,372   128,363

Total current assets                       245,193   218,121



Non-current assets

Long-term financial assets                   4,011     3,937

Tangible assets                            401,747   395,589

Goodwill                                       797       893

Software                                     3,196     3,131

Total non-current assets                   409,751   403,550



Total assets :                             654,944   621,671



Liabilities and owners' equity



Current liabilities

Short-term loan and lease liabilities       27,606    45,019

Accounts payable                            61,401    45,989

Other current liabilities                   24,035    27,284

Total current liabilities                  113,042   118,292



Long-term loan and lease liabilities       186,953   188,971

Total liabilities                          299,995   307,263



Minority interest of

off-group shareholders                       4,114     3,706



Owners' equity

Share capital                              377,217   377,217

Mandatory legal reserve                      2,690     2,629

Retained earnings                          -32,818   -69,748

Unrealized exchange differences              3,746       604

Total owners' equity                       350,835   310,702



Total liabilities and owners' equity       654,944   621,671





Olle Horm

Management Board chairman

+372 32 29 221