EESTI TELEKOM

INCOME STATEMENT



AUDITED CONSOLIDATED INCOME STATEMENT 1999



IAS, audited                                                                 

EEK thous.                                                                   

                                       G R O U P            Parent Company

                                      1999        1998        1999       1998

Revenue                                                                      

Net sales                        3,568,523   3,074,519           0          0

Change in work-in-progress            -994        -498           0          0

Other revenue                       27,714      25,022          94        530

Total revenue                    3,595,243   3,099,043          94        530

                                                                             

Operating expenses                                                           

Materials, consumables,            837,516     753,336           0          0

supplies and services

Other operating expenses           385,029     344,528      26,198     39,559

Personnel expenses                 466,208     402,417       9,634      3,632

Other expenses                      70,156      70,921       2,028      1,518

Total expenses                   1,758,909   1,571,202      37,860     44,709

                                                                             

Profit from operations before    1,836,334   1,527,841     -37,766    -44,179

depreciation

                                                                             

Depreciation, amortisation and     881,059     723,643         676        383

value adjustments of current

assets

                                                                             

Profit from operations             955,275     804,198     -38,442    -44,562

                                                                             

Income from subsidiaries and           648         448     592,829    332,400

associated companies

Other net financing items          -51,040     -57,804      25,875     32,092

                                                                             

Profit before tax                  904,883     746,842     580,262    319,930

                                                                             

Income tax expenses (-) /         -156,266    -106,771           0     -1,767

income (+)

Profit after tax                   748,617     640,071     580,262    318,163

                                                                             

Minority interest                   83,158     321,908           0          0

Net profit from ordinary           665,459     318,163     580,262    318,163

activities

                                                                             

Extraordinary item                  85,197           0           0          0

Net profit for the period          580,262     318,163     580,262    318,163

                                                                             

Earnings per share                                                           

Basic earnings per share (in          4.78        4.33        4.78       4.33

kroons)

Diluted earnings per share (in        4.78        4.33        4.78       4.33

kroons)





Raul Kalev

PR-manager

+372 6460 220