OPTIVA PANK

BALANCE SHEET



UNCONSOLIDATED BALANCE SHEET 30.11.99



(EEK in thousand, unaudited)





ASSETS

                                              30.11.99  31.10.99

Cash in hand                                    62 406    52 268

Demand deposits with banks                     403 217   386 234

Interest-bearing deposits with banks           286 688       123

Short-term investments in shares                 4 116     4 897

Securities purchased under resale agreements     7 095     6 700

Loans to clients                             2 038 138 2 046 872

Allowances for loan losses                    -194 537  -190 840

Net loans                                    1 843 601 1 856 032

Long-term financial investments in debt secu   667 534   662 547

Long-term financial investments in shares       96 998    96 607

Tangible assets                                 12 959    13 549

Intangible assets                              114 110   116 822

Other assets                                   159 825   137 892

TOTAL ASSETS                                 3 658 549 3 333 672



LIABILITIES

Current accounts                               815 423   737 522

Time deposits                                  425 329   400 360

Loans from banks                               703 494   607 975

Borrowings from government                      94 988    94 484

Debts evidenced by certificates                734 187   727 850

Clearing accounts                              287 085   169 310

Other liabilities                               54 121    52 710

Subordinated debt                              194 500   194 500

TOTAL LIABILITIES                            3 309 127 2 984 711

OWNERS' EQUITY

Share capital                                  412 559   412 559

Share premium account                           60 602    60 602

General banking reserve                         44 812    44 812

Other reserves                                   4 665     4 665

Retained earnings from priors years           -184 670  -184 670

Profit/Loss  for the financial year             11 454    10 993

TOTAL OWNERS' EQUITY                           349 422   348 961

TOTAL LIABILITIES AND OWNERS' EQUITY         3 658 549 3 333 672







Piret Villman

Head of Budget and Planning Dept

+372 63 02 103





Lea Endrikson

Public relations specialist

+372 63 02 588