XXL.EE

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.06.2001



Consolidated, unaudited

in thousand EEK



                                       30.06.2001 31.12.2000

ASSETS

Cash and bank                                  91         35

Marketable securities                       5,202      3,847

Customer receivables                        1,361        453

Other receivables                           1,060      2,119

Accrued income                                  3        128

Prepaid expenses                            1,084        673

Inventories                                 1,510      1,252

Total current assets                       10,311      8,507



Other non-current receivables                 182        108

Tangible assets                             3,707      3,773

Accumulated depreciation                   -1,034       -980

Intangible assets                           1,438        223

Total non-current assets                    4,293      3,124

Total assets                               14,604     11,631



Liabilities and owners' equity

Debt obligations                           12,954      8,640

Customer prepayments                           18         18

Supplier payables                           1,578      1,264

Tax liabilities                             2,733      1,166

Accrued expenses                            1,588      1,159

Other prepaid revenues                         12         33

Total current liabilities                  18,883     12,280

Long-term debt liabilities                    245        224

Total non-current liabilities                 245        224

Total liabilities                          19,128     12,504

Minority interest                              81

Share capital                              25,000     25,000

Capital surplus                            19,006     19,006

Mandatory reserve capital                     767        767

Unrealised exchange difference               -174        -10

Retained earnings                         -45,717    -36,923

Profit/loss for the financial year         -3,406     -8,793

Total owners' equity                       -4,524       -954

Total liabilities and owners' equity       14,604     11,631





Arho Anttila

CEO

+372 650 7500