XXL.EE

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.09.2000



Consolidated, unaudited

in thousand EEK



Financial year: 01.01-31.12



                                                 30.09.2000 31.12.1999

ASSETS

Cash and bank                                           204        167

Marketable securities                                            1,020

Customer receivables                                  2,692      4,076

incl. accounts receivable                             6,781      7,579

Allowance for doubtful accounts                      -4,089     -3,503

Other receivables                                     4,283      9,811

incl.receivables from subsidiaries

Receivables from associated companies                   677

Other current receivables                             3,606      9,811

Accrued income                                            0         18

incl.interest receivables                                           18

dividends receivable

Prepaid expenses                                        562      2,384

incl.Prepaid/refundable tax receivables                 287      2,000

Other prepaid expenses                                  275        384

Inventories                                           1,287      1,067

incl.raw materials

finished goods

merchandise purchased for resale                      1,243        954

prepayments to suppliers                                 44        113

Total current assets                                  9,028     18,543



Long-term financial assets                            1,676      5,377

incl.stock and shares in subsidiaries

Stock and shares in associated companies              1,248

Non-current receivables from subsidiaries

Other non-current receivables                           428      5,377

Tangible assets                                       1,495      1,326

incl.land and building                                  332        357

Plant and equipment                                     390        575

Other equipment and fixtures                          1,441      1,395

Accumulated depreciation                               -668     -1,001

Fixed assets under construction

Prepayments for non-current assets

Intangible assets                                       196      2,061

incl.concessions, patents, trademarks, etc.             196      2,061

Total non-current assets                              3,367      8,764

Total assets                                         12,395     27,307



Liabilities and owners' equity

Debt obligations                                      8,664     25,096

incl.Debentures (except bank loans)                   1,556      2,871

Current period long-term debt repayment                          2,210

Short-term loans from financial institutions          7,108     20,015

Customer prepayments                                     18         61

Supplier payables                                     1,184      5,623

incl. accounts payable                                1,184      5,623

Other payables                                            0          0

incl.payables to subsidiaries

Tax liabilities                                         280        279

Accrued expenses                                        798        822

incl.salary-related accrued expenses                    375        226

Interest payable                                                    69

Other accrued expenses                                  423        527

Other prepaid revenues                                             338

Total current liabilities                            10,944     32,219



Long-term debt liabilities                                0          0

incl.non-convertible long-term debt

Long-term bank loans

Deferred income tax liability

Total non-current liabilities                             0          0

Total liabilities                                    10,944     32,219



Minority interest



Share capital in nominal value                       10,000     20,000

Paid in share capital                                15,000

Capital surplus                                      19,006     19,006

Unrealised exchange difference                         -114

Mandatory reserve capital                               767        767

Retained earnings                                   -44,600      9,178

Profit/loss for the financial year                    1,392    -53,863

Total owners' equity                                  1,451     -4,912

Total liabilities and owners' equity                 12,395     27,307





Arho Anttila

Chief Executive

+372 6 507 500