XXL.EE

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.09.2001



Consolidated, unaudited

in thousand EEK

                                      30.09.2001 31.12.2000

                                           Group      Group

ASSETS

Cash and bank                                 89         35

Marketable securities                      5,202      3,847

Customer receivables                       1,486        453

Other receivables                          4,492      2,119

Accrued income                                 2        128

Prepaid expenses                             847        673

Inventories                                1,526      1,252

Total current assets                      13,644      8,507



Other non-current receivables                108        108

Tangible assets                            3,331      3,773

Accumulated depreciation                  -1,457       -980

Intangible assets                          1,525        223

Total non-current assets                   3,507      3,124

Total assets                              17,151     11,631



Liabilities and owners' equity

Debt obligations                          14,207      8,640

Customer prepayments                          74         18

Supplier payables                          1,864      1,264

Tax liabilities                            2,302      1,166

Accrued expenses                           1,319      1,159

Other prepaid revenues                       173         33

Total current liabilities                 19,939     12,280

Long-term debt liabilities                   227        224

Total non-current liabilities                227        224

Total liabilities                         20,166     12,504

Minority interest                             81

Share capital                             25,000     25,000

Capital surplus                           19,006     19,006

Mandatory reserve capital                    767        767

Unrealised exchange difference               -32        -10

Retained earnings                        -43,021    -36,923

Profit/loss for the financial year        -4,735     -8,793

Total owners' equity                      -3,015       -954

Total liabilities and owners' equity      17,151     11,631





Alan Rein

CEO

+372 6 507 500