EESTI TELEKOM

CORRECTIVE ANNOUNCEMENT



CORRECTION TO CONSOLIDATED BALANCE SHEET AS OF 30.09.2001



On the line "Net profit for the period" (30.09.2001)

the correct number is "712,832".



Corrected balance sheet follows:

 

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AS EESTI TELEKOM AND SUBSIDIARY COMPANIES

BALANCE SHEETS

In thousands of Estonian kroons (EEK)

                            30 Sept    31 Dec   30 Sept

                               2001      2000      2000

                                   (corrected) (corrected)

                                        

ASSETS                                              

Current assets                                      

Cash and cash               196,079   609,743   518,875

equivalents

Trade receivables, net      402,182   374,897   388,531

Other receivables            56,825    33,214    41,306

Accrued income               98,541    58,986    93,726

Prepaid expenses             20,364    64,014    19,094

Inventories                 157,925   149,223   134,294

Total current assets        931,916 1,290,077 1,195,826

                                                

Non-current assets                                  

Long term financial          35,962    29,213    21,217

assets

Tangible assets, net      3,131,601 3,234,088 3,004,459

Intangible assets, net       47,463    67,603    49,998

Total non-current         3,215,026 3,330,904 3,075,674

assets

                                                      

TOTAL ASSETS              4,146,942 4,620,981 4,271,500

                                                    

EQUITY AND LIABILITIES                              

Current liabilities                                 

Interest bearing loans       40,234   161,392   162,727

and borrowings

Customer prepayments          8,364     6,619     6,296

Accounts payable to         190,365   361,996   224,918

suppliers

Other payables                    0       119         0

Tax liabilities              61,463    36,844    63,490

Accrued expenses            132,926   194,195   202,595

Provisions                   16,613    14,338     4,658

Prepaid revenues             45,996    44,274    45,969

Total current               495,961   819,777   710,653

liabilities

                                                

Non-current liabilities                                 

Interest bearing loans      101,733   200,978   208,008

and borrowings

Total non-current           101,733   200,978   208,008

liabilities

                                                    

Minority interest                 0     8,193    11,552

                                                    

Equity                                              

Issued capital            1,373,833 1,373,833 1,373,833

Share premium               309,964   309,964   309,964

Statutory legal reserve     137,384   124,963   124,963

Retained earnings         1,015,235   661,465   661,465

Net profit for the          712,832 1,121,808   871,062

period

Total equity              3,549,248 3,592,033 3,341,287

                                                    

TOTAL EQUITY AND          4,146,942 4,620,981 4,271,500

LIABILITIES





Kadri Lensment

Management assistant

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