EESTI TELEKOM

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 31.03.2000



In thousands EEK

                              31.03.00   31.12.99   31.03.99

ASSETS                                               

Current assets                                       

Cash and cash equivalents      647,252    485,318    350,413

Short-term investments          40,000          -     48,936

Trade receivables              360,581    372,105    359,358

Other receivables               52,101     30,795     27,902

Accrued income                  76,143     83,683     51,192

Prepaid expenses                15,568     15,208     94,227

Inventories                    123,166    141,656    114,719

Total current assets         1,314,811  1,128,765  1,046,747

                                                 

Non-current assets                                   

Long term financial assets       6,142      6,294      4,211

Deferred tax assets                  -          -    109,700

Tangible assets              2,901,888  2,934,647  2,781,571

Intangible assets               57,606     69,925     57,063

Total non-current assets     2,965,636  3,010,866  2,952,545

                                                         

TOTAL ASSETS                 4,280,447  4,139,631  3,999,292

                                                     

EQUITY AND LIABILITIES                               

Current liabilities                                  

Interest bearing loans and      49,343     76,836     99,455

borrowings

Customer prepayments             7,269      7,138      9,883

Accounts payable to            166,551    174,762    151,270

suppliers

Other payables                     376      1,949          1

Tax liabilities                121,643    115,270    137,721

Accrued expenses               176,842    159,176    298,236

Provisions                       8,188     12,370          -

Prepaid revenue                 44,353     41,303     42,436

Total current liabilities      574,565    588,804    739,002

                                                 

Non-current liabilities                                  

Interest bearing loans and     424,910    516,579    594,017

borrowings

Other long-term payables         7,252      7,252          -

Deferred tax liabilities             -          -     68,265

Total non-current              432,162    523,831    662,282

liabilities

                                                     

Minority interest                8,337      7,226      3,231



                                                     

                              31.03.00   31.12.99   31.03.99

Equity                                               

Issued capital               1,373,833  1,373,833  1,373,833

Agio                           309,966    309,966    309,966

Legal reserve                   56,851     56,851     25,478

Retained earnings            1,279,120    698,859    821,732

                                     0

Net profit for the period      245,613    580,262     63,768

Total equity                 3,265,383  3,019,770  2,594,777

                                                     

TOTAL EQUITY AND LIABILITIES 4,280,447  4,139,631  3,999,292





Raul Kalev

PR-manager

+372 6460 220