OPTIVA PANK

BALANCE SHEET



UNCONSOLIDETED BALANCE SHEET 31.12.99



(EEK in thousand, unaudited)





ASSETS                                          31-Dec-99 30-Nov-99 31-Dec-98

                                                                      audited

Cash in hand                                       80,471    62,406    59,677

Demand deposits with banks                        514,831   403,217   345,473

Interest-bearing deposits with banks              203,016   286,688        31

Short-term investments in shares                    4,412     4,116     2,594

Securities purchased under resale agreements        8,999     7,095    14,219

Loans to clients                                1,988,459 2,038,138 2,288,770

Allowances for loan losses                       -235,275  -194,537  -228,445

Net loans                                       1,753,184 1,843,601 2,060,325

Long-term financial investments in debt securiti  695,176   667,534   265,935

Long-term financial investments in shares          99,965    96,998   137,747

Tangible assets                                    32,668    12,959    13,880

Intangible assets                                 111,988   114,110   139,397

Other assets                                      230,913   159,825   134,508

TOTAL ASSETS                                    3,735,623 3,658,549 3,173,787



LIABILITIES

Current accounts                                1,055,789   815,423   550,839

Time deposits                                     499,134   425,329   326,164

Loans from banks                                  690,255   703,494   688,774

Borrowings from government                         95,958    94,988   115,492

Debts evidenced by certificates                   735,071   734,187   816,509

Clearing accounts                                  89,362   287,085    94,909

Other liabilities                                  56,303    54,121    48,632

Subordinated debt                                 194,500   194,500   194,500

TOTAL LIABILITIES                               3,416,372 3,309,127 2,835,820

OWNERS' EQUITY

Share capital                                     412,559   412,559   412,559

Share premium account                              60,602    60,602    60,602

General banking reserve                            44,812    44,812    44,812

Other reserves                                      4,665     4,665     4,665

Retained earnings from priors years              -184,670  -184,670    80,303

Profit/Loss  for the financial year               -18,717    11,454  -264,974

TOTAL OWNERS' EQUITY                              319,251   349,422   337,967

TOTAL LIABILITIES AND OWNERS' EQUITY            3,735,623 3,658,549 3,173,787





Lea Endrikson

Public relations specialist

(+372) 63 02 588