FAKTO

BALANCE SHEET



AUDITED, CONSOLIDATED BALANCE SHEET, AS AT 31.12.00



Consolidated, audited

in thousand EEK



Assets                                            AS Fakto          Group

Current assets                              31.12.00 31.12.99 31.12.00 31.12.99



Cash and bank                                 15,948      230   20,767    8,713



Customer receivables

Accounts receivable                            4,246    7,040   15,225   13,521

Allowance for doubtful accounts (less)          -574     -467   -1,392   -1,024

Total customer receivables                     3,671    6,573   13,833   12,497



Other receivables

Receivables from subsidiaries and              8,260    6,474        0        0

parent company

Other current receivables                      3,600    3,179    8,339    8,999

Total other receivables                       11,859    9,653    8,339    8,999



Accrued income

Calculated interests                             110        3      130       49

Total accrued income                             110        3      130       50



Prepaid expenses and prepaid/

refundable tax receivables

Prepaid tax receivables                          455      963    2,591    3,366

Prepaid expenses                                 278      398      505      351

Total prepaid expenses                           732    1,360    3,095    3,717



Inventories

Raw materials                                     12       12       12       12

Work-in-progress                                 174      165      174      165

Merchandise purchased for resale               5,380    5,508   26,762   22,472

Prepayments to suppliers                           0       32      470      295

Total inventories                              5,566    5,718   27,418   22,944



Total current assets                          37,887   23,537   73,582   56,920



Non-current assets

Long-term financial assets

Stock and shares in subsidiaries               8,293    9,280        0        0

Goodwill                                         538      918      538      918

Stock and shares in associated companies         100        0      100        0

Other non-current receivables                  4,406    4,000    2,034    4,562

Total long-term financial assets              13,337   14,198    2,672    5,479



Tangible assets

Land and building                             46,599   47,404   71,604   72,408

Plant and equipment                            7,332    7,540   18,692   15,912

Other equipment and fixtures                   2,283    2,310    6,576    6,625

Accumulated depreciation (less)              -20,423  -18,880  -27,648  -24,952

Total tangible assets                         35,791   38,374   69,224   69,992



Intangible assets

Purchased patents, licenses, etc.                135      199      377      557

Total intangible assets                          135      199      377      557



Total non-current assets                      49,262   52,770   72,272   76,028



Total assets                                  87,149   76,307  145,854  132,948





Liabilities and owners' equity



Current liabilities



Short-term borrowings

Debentures                                         0       44        0    4,297

Current period repayment of long-term lease    1,783        0      661        0

Current period repayment of long-term debt         0    2,200        0    4,888

Short-term loans from financial institution    4,355    4,981    4,355    4,981

Total short-term borrowings                    6,138    7,225   10,972   14,166



Customer prepayments                           1,946    1,798    2,062    2,701



Supplier payables                             13,258   15,449   36,725   35,058



Tax liabilities                                2,607    2,538    3,766    4,516



Accrued expenses

Salary-related accrued expenses                1,292    1,322    2,537    2,617

Interest payable                                   9        6       34    2,826

Other accrued expenses                            67      167      134      358

Total accrued expenses                         1,368    1,496    2,705    5,802



Provisions                                         0        0    1,743    1,002



Total current liabilities                     25,317   28,507   57,972   63,244



Non-current liabilities



Long-term borrowings

Non-convertible long-term debt                     0       40    1,623       40

Bank loans                                         0   13,200   15,719   25,823

Other long-term borrowings

from financial institutions                   24,904        0   29,088    6,106

Total long-term borrowings                    24,904   13,240   46,430   31,968



Total non-current liabilities                 24,904   13,240   46,430   31,968



Total liabilities                             50,221   41,746  104,402   95,213



Minority interest                                  0        0    4,524    3,175



Owners' equity

Share capital in nominal value                16,501   16,501   16,501   16,501

Capital surplus                                7,307    7,307    7,307    7,307

Restricted reserves                              808      767      808      767

Retained earnings                              9,769    9,167    9,769    9,167

Profit/loss for the financial year             2,544      820    2,544      820

Total owners' equity                          36,928   34,561   36,928   34,561



Total liabilities and owners' equity          87,149   76,307  145,854  132,948





Toivo Urva

Management Board chairman

+372 6 389 200