OPTIVA PANK

BALANCE SHEET



BANK BALANCE SHEET, 31.03.2000



In thousand EEK

                                  31-03-99   31-12-99   31-03-00

ASSETS

Cash in hand                         73,862     80,471     52,032

Demand deposits with banks          378,847    624,231    593,765

Interest-bearing deposits           155,026    203,016    150,087

with banks

Short-term investments in shares      5,068     24,981      3,375

Securities purchased under            9,063      8,999      5,000

resale agreements

Loans to clients                  2,144,186  1,876,937  1,858,441

Allowances for loan losses         -228,367   -118,711   -102,220

Net loans                         1,915,819  1,758,226  1,756,221

Long-term financial investments     391,569    695,176    564,773

in debt securities

Long-term financial investments     128,638     77,771    103,939

in shares

Tangible assets                      12,779     32,668     29,543

Intangible assets                   132,050    111,988    105,979

Other assets                        144,472    116,173    142,051

TOTAL ASSETS                      3,347,193  3,733,700  3,506,765



LIABILITIES

Current accounts                    607,319  1,055,789    993,309

Time deposits                       410,662    499,134    540,829

Loans from banks                    686,405    690,255    611,951

Borrowings from government          115,472     95,958     58,224

Bonds issued                        782,512    735,071    348,169

Clearing accounts                   169,258     89,362    385,539

Other liabilities                    41,523     56,303     49,536

Subordinated debt                   194,500    194,500    194,500

TOTAL LIABILITIES                 3,007,651  3,416,372  3,182,057



OWNERS' EQUITY

Share capital                       412,559    412,559    412,559

Share premium account                60,602     60,602     60,602

General banking reserve              44,812     44,812     44,812

Mandatory reserve capital             4,118      4,118      4,118

Other reserves                          547        547        547

Retained earnings                  -184,670   -184,670   -205,310

Profit/Loss for financial year        1,574    -20,640      7,380

TOTAL OWNERS' EQUITY                339,542    317,328    324,708



TOTAL LIABILITIES AND             3,347,193  3,733,700  3,506,765

OWNERS EQUITY





Piret Villman

Head of Analysis Dept.

+372 63 02 103