NORMA

REPORT



CONSOLIDATED CHANGES IN OWNERS` EQUITY AS OF 31.12.00



EEK in thousands,unaudited

                      Share Capital Reserves  Profit for  Profit   Total

                                               Previous  for the   Owners`

                                              Accouting Financial  Equity

                                               Periods     Year

                                                   

31.12.1998                  132 000   15 636    122 758   47 578  317 972

Net Retained Earnings of 1998                    47 578  -47 578        0

Dividends                                       -39 600           -39 600

Adjustment                                         -672              -672

Net Profit for the Financial Year                        107 588  107 588

31.12.1999                  132 000   15 636    130 064  107 588  385 288



31.12.1999                  132 000   15 636    130 064  107 588  385 288

Net Retained Earnings of 1999                   107 588 -107 588        0

Reassessment Reserves                 -2 436      2 436                 0

Dividends                                       -39 600           -39 600

Net Profit for the Financial Year                        157 449  157 449

31.12.2000                  132 000   13 200    200 488  157 449  503 137





Peep Siimon

Chairman of the Board

+372-6500-442