TALLINNA KAUBAMAJA

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.06.01



Consolidated/unaudited

in thousand EEK



ASSETS                                        30.06.2001 31.12.2000

CURRENT ASSETS

Cash and bank                                     19,768     29,701

Customer receivables                               2,209      7,132

Other receivables                                  1,262     28,239

Accrued income                                         9        172

Prepaid expenses                                   2,862      4,539

Inventories                                      190,613    175,661

TOTAL CURRENT ASSETS                             216,723    245,444

NON-CURRENT ASSETS

Long-term financial assets                        15,715     15,763

Stock and shares in associated companies           2,694      2,742

Long-term receivables from                        12,028     12,028

Other long-term receivables                          993        993

Tangible assets                                  448,569    424,615

Land and buildings                               365,931    339,205

Plant and equipment                               73,460     64,301

Other equipment and fixtures                     141,020    129,957

Accumulated depreciation                        -133,330   -110,327

Uninstalled equipment                                375        896

Prepayments to suppliers for tangible assets       1,114        584

Intangible assets                                 -1,878        302

TOTAL NON-CURRENT ASSETS                         462,407    440,680

TOTAL ASSETS                                     679,130    686,124



LIABILITIES AND OWNERS' EQUITY               30.06.2001 31.12.2000

LIABILITIES

CURRENT LIABILITIES

Debt obligations                                 151,145     86,523

Customer prepayments                                 420      1,196

Supplier payables                                 68,347     90,198

Other expenses                                    20,480     28,515

TOTAL CURRENT LIABILITIES                        240,393    206,433



Long-term debt obligations                        66,927     93,930

TOTAL NON-CURRENT LIABILITIES                     66,927     93,930

TOTAL LIABILITIES                                307,319    300,362

MINORITY INTEREST                                      0      8,337

OWNERS' EQUITY

Share capital                                     67,882     67,882

Mandatory legal reserve                            9,294      8,321

Other restricted reserves                              0        565

Fixed assets revaluation reserves                169,719    169,719

Retained earnings                                120,457     70,549

NET PROFIT (-LOSS) FOR THE PERIOD                  4,459     60,389

TOTAL OWNERS' EQUITY                             371,811    377,425

TOTAL LIABILITIES AND OWNERS' EQUITY             679,130    686,124





Katrin Mühls

CFO

+372 6 673 373