RAKVERE LIHAKOMBINAAT

BALANCE SHEET



GROUP BALANCE SHEET, AS OF 30.06.2000



Consolidated, unaudited

in thousand EEK

                                                30.06.2000 31.12.1999

ASSETS



Current assets

Cash and bank                                        5,378     10,152

Customer receivables                                64,116     57,749

Other current receivables                           16,712     15,106

Inventories                                        126,259    122,312

Total current assets                               212,465    205,319



Non-current assets

Long-term financial assets                           6,284      4,721

Tangible assets                                    413,363    401,271

Intangible assets                                    4,138      4,024

Total non-current assets                           423,785    410,016



Total assets :                                     636,250    615,335



Liabilities and owners' equity



Current liabilities

Short-term loan and lease liabilities               47,348     25,235

Accounts payable                                    60,749     48,206

Other current liabilities                           27,657     30,884

Total current liabilities                          135,754    104,325



Long-term loan and lease liabilities               192,177    197,859

Total liabilities                                  327,931    302,184



Minority interest                                    2,891      3,004



Owners' equity

Share capital                                      377,217    377,217

Mandatory legal reserve                              2,629      1,416

Retained earnings                                  -76,281    -69,751

Unrealized exchange differences                      1,863      1,265

Total owners' equity                               305,428    310,147



Total liabilities and owners' equity               636,250    615,335





Teet Soorm

CFO

+372 32 29231