EESTI TELEKOM

BALANCE SHEET



BALANCE SHEET OF ESTONIAN TELEPHONE COMPANY AS OF 31.12.99



IAS, unaudited

EEK thous.

                                   Group                Parent

                                                       Company

                                  31.Dec 99 31.Dec 98  31.Dec 99  31.Dec 98

                                                                           

ASSETS                                                                     

Non-current assets                                                         

Land, buildings and equipment     2 114 154 2 058 386  2 107 842  2 052 685

Goodwill                             14 001       903     14 001        903

Purchased licenses, patents and      45 414    50 920     45 414     50 755

trademarks

Development costs                         0       400          0          0

Investments in associated             2 760     2 352      2 760      2 352

Other investments                        48        98     11 172      3 945

Other long-term receivables           2 517     1 306      2 395      1 306

Pre-paid taxes and expenses               0   109 700          0    109 024

Total non-current assets          2 178 894 2 224 065  2 183 584  2 220 970

                                                                           

Current assets                                                             

Inventory                            65 786    50 598     60 825     50 598

Trade receivables                   385 184   315 248    375 926    313 445

Cash and equivalents                 23 784    71 492     11 116     66 510

Total current assets                474 754   437 338    447 867    430 553

                                                                           

Total assets                      2 653 648 2 661 403  2 631 451  2 651 523

                                                                           

EQUITY AND LIABILITIES                                                     

Equity and reserves                                                        

Paid-in capital                     666 900   666 900    666 900    666 900

Reserves                             34 316    21 607     34 316     21 607

Retained earnings                   556 813   564 761    556 813    564 761

Total equity and reserves         1 258 029 1 253 268  1 258 029  1 253 268

                                                                           

Minority interest                     6 314     2 565          0          0

                                                                           

Non-current liabilities                                                    

Interest-bearing loans and          899 217   992 639    899 217    992 639

other liabilities

Total non-current liabilities       899 217   992 639    899 217    992 639

                                                                           

Current liabilities                                                        

Trade payables                      415 651   316 456    399 768    310 641

Interest-bearing liabilities         74 437    96 475     74 437     94 975

Total current liabilities           490 088   412 931    474 205    405 616

                                                                           

Total equity and liabilities      2 653 648 2 661 403  2 631 451  2 651 523





Raul Kalev

PR-manager

6 460 220