OPTIVA PANK

BALANCE SHEET



OPTIVA GROUP UNAUDITED BALANCE SHEET AS OF 30.09.2000



BALANCE SHEET

Consolidated 

unaudited 

EEK in thousands



                                         Group     Group     Group

ASSETS                                30-09-99  31-12-99  30-09-00

Cash in hand                            55,863    80,471    51,393

Demand deposits with banks             379,910   515,598   665,952

Interest-bearing deposits with banks        81   313,416   133,018

Shares trading portfolio                 7,389    24,981     8,859

Securities purchased under resale 

agreements				 6,700     8,999     3,606

Loans to clients                     2,113,117 1,940,657 2,108,216

Allowances for loan losses            -215,367  -145,358  -133,402

Net loans                            1,897,750 1,795,299 1,974,814

Financial investments in debt 

securities                             211,976   241,026   337,487

Financial investments in shares        111,155   102,418    80,736

Tangible assets                        227,106   195,761   157,393

Intangible assets                      119,195   112,507    93,063

Other assets                            91,625   107,592   136,456

TOTAL ASSETS                         3,108,750 3,498,068 3,642,777



LIABILITIES

Current accounts                       671,071   994,104 1,114,152

Time deposits                          400,978   523,577   741,855

Loans from banks                       641,181   701,403   499,386

Borrowings from government             105,842    95,958    50,948

Debts evidenced by certificates        529,581   506,328   255,701

Clearing accounts                      158,377    89,362   381,308

Other liabilities                       57,040    68,067    68,253

Subordinated debt                      194,500   194,500   194,500

TOTAL LIABILITIES                    2,758,571 3,173,299 3,306,103



Minority interests                       2,401     7,583     5,021



OWNERS' EQUITY

Share capital                          412,559   412,559   412,559

Treasury shares                           -203      -142         0

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

General banking reserve                 44,811    44,812         0

Mandatory reserve                        4,118     4,118         0

Other reserves                             547       547         0

Retained earnings from priors years   -184,670  -184,670  -155,833

Profit/Loss  for the financial year     10,014   -20,640    14,325

TOTAL OWNERS' EQUITY                   347,778   317,186   331,653



TOTAL LIABILITIES AND OWNERS' EQUITY 3,108,750 3,498,068 3,642,777





BALANCE SHEET

Unconsolidated 

unaudited 

EEK in thousands



                                          Bank      Bank      Bank

ASSETS                                30-09-99  31-12-99  30-09-00

Cash in hand                            55,853    80,471    51,393

Demand deposits with banks             379,196   624,231   664,954

Interest-bearing deposits with banks        81    03,016   133,018

Shares trading portfolio                 7,389    24,981     8,859

Securities purchased under resale 

agreements				 6,700     8,999     3,606

Loans to clients                     2,044,267 1,876,937 2,066,537

Allowances for loan losses            -188,745  -118,711  -125,852

Net loans                            1,855,522 1,758,226 1,940,685

Financial investments in debt 

securities                             666,545   695,176   564,290

Financial investments in shares         97,067    77,771   113,727

Tangible assets                         13,573    32,668    24,948

Intangible assets                      119,063   111,988    92,446

Other assets                            94,502   116,173   137,320

TOTAL ASSETS                         3,295,491 3,733,700 3,735,246



LIABILITIES

Current accounts                       686,642 1,055,789 1,117,201

Time deposits                          400,979   499,134   741,855

Loans from banks                       630,032   690,255   499,386

Borrowings from government             105,842    95,958    50,725

Debts evidenced by certificates        724,779   735,071   361,519

Clearing accounts                      158,376    89,362   381,308

Other liabilities                       46,073    56,303    57,099

Subordinated debt                      194,500   194,500   194,500

TOTAL LIABILITIES                    2,947,223 3,416,372 3,403,593



OWNERS' EQUITY

Share capital                          412,559   412,559   412,559

Treasury shares                              0         0         0

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

General banking reserve                 44,812    44,812         0

Mandatory reserve                        4,118     4,118         0

Other reserves                             547       547         0

Retained earnings from priors years   -184,670  -184,670  -155,833

Profit/Loss  for the financial year     10,300   -20,640    14,325

TOTAL OWNERS' EQUITY                   348,268   317,328   331,653



TOTAL LIABILITIES AND OWNERS' EQUITY 3,295,491 3,733,700 3,735,246





Ruth Laidvee

Market Communications Director

+372 6 302 105