KLEMENTI

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 31.12.2000



Consolidated, unaudited

in thousand EEK



ASSETS                                        31.12.00     31.12.99



CURRENT ASSETS

1.Cash and bank                                  3,064        4,458

2.Customer receivables                          14,349       10,365

3.Other receivables and                          1,621        1,752

accrued income

4.Prepaid expenses                               1,114        1,461

5.Inventories                                   25,727       25,258

5.1.Raw materials                                5,071        4,893

5.2.Work-in-progress                             5,673        6,405

5.3.Finished goods                              13,708       12,848

5.4.Merchandise purchased for resale               842          695

5.5.Prepayments to suppliers                       433          417

TOTAL CURRENT ASSETS                            45,875       43,294

NON-CURRENT ASSETS

6.Long-term financial assets                     2,801           52

7.Tangible assets                               47,630       34,244

7.1.Land and buildings                          35,928       28,640

7.2.Plant and equipment                         23,561       16,713

7.3.Other inventory                              7,191        5,343

7.4.Accumulated depreciation                   -19,690      -16,832

7.5.Fixed assets under construction                640          380

8.Intangible assets                                969        1,371

Total non-current assets                        51,400       35,667

TOTAL ASSETS                                    97,275       78,961



LIABILITIES AND OWNERS' EQUITY

LIABILITIES

CURRENT LIABILITIES

9.Debt obligations                              21,646       16,717

10.Customer prepayments

for goods and services                               0           27

11.Supplier payables                             5,138        4,426

12.Tax liabilities                               2,581        4,582

13.Accrued expenses                              2,869        2,957

14.Other prepaid revenue                            12            0

Total current liabilities                       32,246       28,709

Non-current liabilities

15.Long-term debt obligations                   17,996       13,116

16.Other long-term payables                         68        2,450

Total non-current liabilities                   18,064       15,566

TOTAL LIABILITIES                               50,310       44,275



OWNERS' EQUITY

17.Share capital                                35,250       24,250

18.Capital surplus                               3,774        3,774

19.Revaluation reserve                             816          816

20.Other restricted reserves                       863          863

21.Retained earnings                             4,983        7,778

22.Net loss for the period                       1,279       -2,795

Total owners' equity                            46,965       34,686

TOTAL LIABILITIES AND OWNERS' EQUITY            97,275       78,961





Airi Kamratov

Chief Accountant

+372 671 0708