HANSAPANK

BALANCE SHEET



HANSA CAPITAL'S BALANCE SHEET



(in EEK, thousands)

unaudited                               31/12/99  31/12/98   31/12/97

ASSETS                                                               

Cash and Bank                            157 384   166 491     16 521

Marketable Securities                          0     6 400        948

Due from Customers                       154 474   138 980     77 617

Financial Investments                  6 973 595 6 034 569  2 956 936

  Leasing                              5 917 474 5 350 207  2 472 082

  Factoring                              598 107   279 795    244 833

  Loans                                  371 528   341 425    176 062

  Assignment                              64 382    32 327     10 410

  Consumer Factoring                      22 104    30 815     53 549

Allowance for Doubtful Receivables      -267 510  -185 569    -19 299

Net Financial Investments              6 706 085 5 849 000  2 937 637

Prepayments to Suppliers                 661 582   245 331    573 809

Stocks for Resale                        136 483    99 084     20 421

Long-term Equity Investments               6 005    49 792     47 914

Tangible Noncurrent Assets               122 825    72 564     44 382

Intangible Assets                          3 552     6 303        382

Accrued Income and Prepaid Expenses      118 887   120 437    103 911

TOTAL ASSETS                           8 067 277 6 754 382  3 823 542

                                                                     

LIABILITIES AND EQUITY                                               

LIABILITIES                                                          

Loans                                  6 000 570 4 653 687  2 454 842

Bonds                                    649 218   972 651    601 970

Bills of Exchange                        387 282   538 808    318 592

Liabilities to Customers and             511 667   257 505    222 729

Suppliers

Accrued Expenses and Prepaid Revenue     104 688   136 819     36 242

Other Liabilities                          3 925       729        611

Deferred Tax Liabilities                     432     4 216     40 939

Negative Goodwill                          7 217    12 028          0

TOTAL LIABILITIES                      7 664 999 6 576 443  3 675 925

Minority Interest                          3 642       869          0

EQUITY                                                               

Share Capital                             40 000    40 000     40 000

Reserves                                  14 515     5 578      3 740

Retained Earnings                        347 258   150 443     97 486

Unrealised Exchange Difference            -3 137   -18 951      6 391

TOTAL EQUITY                             398 636   177 070    147 617

TOTAL LIABILITIES AND EQUITY           8 067 277 6 754 382  3 823 542





Mart Tõevere

Analyst

+372 6131 569