HÜVITUSFOND

INCOME STATEMENT



AUDITED INCOME STATEMENT, H1 2001



Audited

in EEK thousand

                                            H1 2001       2000 H1 2000

1. Interest income                           54,085    124,102  64,904

2. Interest expenses                        -13,504    -37,137 -19,844

3. Net interest income                       40,581     86,965  45,060

4. Income/loss from trading portfolio        -1,679     19,586   8,039

5. Income/loss from investment portfolio      7,709        127   3,845

6. Dividends received                         1,712      1,995   1,610

7. Other income                               2,973      2,140     900

8. Operating expenses                       -10,031    -20,142 -10,436

9. Other expenses                            -3,625     -1,603  -1,043

10. Change in allowance for 

doubtful receivables      		     10,862     -1,280  -1,900

11. Operating profit/loss                    48,501     90,348  46,075

12. Profit/loss related to subsidiaries      -8,313    -28,655 -12,035

13. Profit/loss related to

associated companies                              0     -4,782       0

14. Profit/loss from normal activities       40,188     66,475  34,040

15. Expenses related with bonds issued            0    -48,531       0

16. Net profit/loss                          40,188    -17,944  34,040





Jaanus Kosemaa

PR manager

+372 6651 800