KLEMENTI

ANNOUNCEMENT



COMMENTARY TO FINANCIAL RESULTS, 9M 2000



The 9m 2000 consolidated financial reports show the results of the 

following subsidiaries:

-  OÜ Klementi Kinnisvara (100% holding; liquidation launched 01.06.2000)

-  AS Profline (100%; sold 14.08.2000)

-  Klementi Trading OY (100%)

-  AS Brendman (100%; liquidation launched 05.04.2000)

-  UAB Klementi Vilnius (100%; bought 17.04.2000)



In 9m 2000 the consolidated and unaudited net sales of AS Klementi 

amounted to EEK 83.3 million, which is EEK 7.6 million or 10.0% 

more than in 9m 1999 (9m 99 consolidated net sales EEK 76.2 million). 

In 9m the exports amounted to EEK 46.4 million, or 55.4% of net 

sales.



Compared to the same period last year, the sale of goods produced 

increased by 14.5% (from EEK 49.5 million to EEK 56.6 million). The 

share of goods produced of net sales was 67.6%.

Sale of goods produced by markets (million EEK):



                     Q3 2000  Q3 1999 9m 2000 9m 1999

Estonia		        11.9	12.5	34.5	33.0

Latvia, Lithuania	 2.9	 0.6	 8.6	 7.7

Finland, Sweden	         8.7	 6.1	12.4	 7.9

Other			 0.9	 0.4	 1.1	 0.9





In 9m 2000 the sales of goods produced amounted to EEK 24.0 million, 

which accounts for 28.6% of net sales (31.3% in 9m 1999). Compared 

with the same period last year, the share of subcontracting works was 

lower by 2.7%.



In 9m 2000 AS Klementi consolidated and unaudited loss stood at 

EEK 0.4 million (net loss during the same period last year EEK 

2.3 million). In Q3, however, the company had EEK 4.2 mln net profit 

(in Q3 1999 EEK 0.2 mln net loss).



In Q3 2000 AS Klementi sold its 100% holding in subsidiary AS 

Profline (on 14.08.2000). The book value of the shares was EEK 3.714 

mln and the shares were sold for EEK 4.0 mln, thus the company earned 

EEK 0.286 mln profit from the transaction. The details of the sales 

transaction were published on 16.08.2000 and 02.10.2000.





Madis Võõras

Management Board chairman

+372 67 10 700