HÜVITUSFOND

BALANCE SHEET



BALANCE SHEET, Q1 2000



in thousand EEK



ASSETS                                31.03.1999  31.12.1999  31.03.2000



1.Cash and bank                           153,172      62,023      16,121

2.Trading portfolio                       122,984      72,884     140,594

3.Loans and receivables                   257,397     237,260     254,715

4.Investment portfolio                    774,919     913,373     892,379

5.Investments in subsidiaries              93,450     231,199     231,104

6.Investments in associated companies     119,714      42,504      56,498

7.Tangible assets                           8,104       6,659       6,271

8.Intangible assets                           198          89          68

9.Other assets                             63,020      49,332      50,664

TOTAL ASSETS                            1,592,958   1,615,323   1,648,414



LIABILITIES AND OWNERS' EQUITY

LIABILITIES

10.Borrowings from credit institution     247,135      16,000      16,000

11.Bonds issued                           438,261     551,926     551,926

12.Other debt securities issued                 0           0           0

13.Other liabilities                       22,484      25,455      27,199

Total liabilities                         707,880     593,381     595,125

OWNERS' EQUITY

14.Capital stock                        1,421,382   1,621,688   1,626,242

15.Retained earnings                     -582,224    -582,224    -599,746

16.Net profit/loss for the period          45,921     -17,522      26,793

Total owners equity                       885,078   1,021,942   1,053,289

TOTAL LIABILITIES AND OWNERS' EQUITY    1,592,958   1,615,323   1,648,414





Jaanus Kosemaa

Public relations manager

3726651800, 25104614