Tallinna Kaubamaja            INCOME STATEMENT                  03/01/2002



CONSOLIDATED UNAUDITED INCOME STATEMENT, 2001



CONSOLIDATED PROFIT AND LOSS STATEMENT

unaudited, in thousands of kroons and euros



                                   The Group         The Group

                                   2001              2000

Operating income                         EEK     EUR       EEK     EUR

Net sales                           1 449 973  92 670 1 189 770  76 040

Other operating income                 24 777   1 584    10 077     644

Total operating income              1 474 750  94 254 1 199 847  76 684

Operating expenses

Cost of goods sold                 -1 084 086 -69 286  -859 392 -54 925

Other operating expenses             -154 732  -9 889  -109 266  -6 983

Personnel expenses                   -129 744  -8 292  -115 408  -7 376

Depreciation and value adjustments    -53 056  -3 391   -39 599  -2 531

Depreciation of  goodwill                -140      -9      -140      -9

Amortisation of badwill                   352      22         0       0

Other expenses                         -5 589    -357    -2 109    -135

Total operating expenses           -1 426 995 -91 202-1 125 912 -71 959

Operating profit                       47 755   3 052    73 935   4 725

Financial income

Financial income on shares in subsi         0       0         0       0

Financial income on shares in assoc       102       7         0       0

Interest income                           833      53     1 086      69

Other financial income                    871      56     1 459      93

Total financial income                  1 806     115     2 545     163

Financial expenses

Financial expense on shares in subs         0       0         0       0

Financial expense on shares in asso         0       0      -723     -46

Interest expenses                     -13 762    -880   -13 004    -831

Other financial expenses                 -151     -10      -234     -15

Total financial expenses              -13 913    -889   -13 960    -892

Profit before taxes                    35 649   2 278    62 520   3 996

Profit before minority interests       35 649   2 278    62 520   3 996

Minority interests                        109       7    -2 131    -136

Net profit                             35 758   2 285    60 389   3 860



Basic earnings per share                 5,27    0,34       8,9    0,57



Diluted earnings per share               5,27    0,34       8,9    0,57







PFROFIT AND LOSS STATEMENT OF THE PARENT

unaudited, in thousands of kroons and euros

                                   Parent            Parent

                                         2001              2000

                                         EEK     EUR       EEK     EUR

Operating income

Net sales                             577 070  36 882   590 558  37 744

Other operating income                 50 767   3 245    37 767   2 414

Total operating income                627 837  40 126   628 325  40 157

Operating expenses

Cost of goods sold                   -418 432 -26 743  -416 593 -26 625

Other operating expenses             -114 488  -7 317   -94 951  -6 068

Personnel expenses                    -61 468  -3 929   -69 950  -4 471

Depreciation and value adjustments    -16 637  -1 063   -18 320  -1 171

Depreciation of  goodwill                   0       0         0       0

Amortisation of badwill                     0       0         0       0

Other expenses                         -4 290    -274    -1 093     -70

Total operating expenses             -615 316 -39 326  -600 907 -38 405

Operating profit                       12 521     800    27 418   1 752

Financial income

Financial income on shares in subsi    26 641   1 703    35 699   2 282

Financial income on shares in assoc       102       7

Interest income                         4 356     278     2 088     133

Other financial income                    871      56     1 459      93

Total financial income                 31 970   2 043    39 246   2 508

Financial expenses

Financial expense on shares in subs    -1 429     -91      -264     -17

Financial expense on shares in asso         0       0      -723     -46

Interest expenses                      -7 154    -457    -5 076    -324

Other financial expenses                 -150     -10      -213     -14

Total financial expenses               -8 733    -558    -6 274    -401

Profit before taxes                    35 758   2 285    60 389   3 859

Net profit                             35 758   2 285    60 389   3 860





Katrin Mühls

CFO

+372 6 673 200