EESTI TELEKOM

BALANCE SHEET



AUDITED CONSOLIDATED BALANCE SHEET 31.12.1999



IAS, audited                                              

EEK thous.                                                

                                       GROUP                Parent Company

                                 31.12.99     31.12.98     31.12.99   31.12.98

A S S E T S                                                            

Non-current assets                                                     

Property, plant and             2,934,647    2,798,035        3,368        958

equipment

Goodwill                           24,171       14,100            0          0

License, patents and               45,487       50,999            0          0

trademarks

Development costs                     267          400            0          0

Investments in associates           2,760        2,352    2,405,922  1,047,761

Other investments                     888           98          840          0

Other receivables                   2,646        1,437      384,967    384,967

Deferred tax assets                     0      109,700            0          0

                                3,010,866    2,977,121    2,795,097  1,433,686

Current assets                                                         

Inventories                       141,656      103,977           21          5

Trade and other receivables       501,791      448,971       20,369     41,621

Short-term investments                  0        4,671            0          0

Cash and cash equivalents         485,318      272,022      205,603    118,244

                                1,128,765      829,641      225,993    159,870

                                                                       

Total assets                    4,139,631    3,806,762    3,021,090  1,593,556

                                                                       

EQUITY  AND  LIABILITIES                                                 

Capital and reserves                                                   

Issued capital                  1,373,833      735,001    1,373,833    735,001

Reserves                          366,817       30,003      366,817     30,003

Accumulated profits             1,279,121      821,732    1,279,121    821,732

                                3,019,771    1,586,736    3,019,771  1,586,736

Minority interest                                                      

Subsidiary companies                7,226    1,010,497            0          0

Non-current liabilities                                                

Interest - bearing loans and      523,831      609,463            0          0

borrowings

Deferred tax liabilities                0       65,084            0          0

                                  523,831      674,547            0          0

Current liabilities                                                    

Trade and other payables          511,967      433,152        1,319      6,820

Interest - bearing loans and       76,836      101,830            0          0

borrowings

                                  588,803      534,982        1,319      6,820

                                                                       

Total equity and liabilities    4,139,631    3,806,762    3,021,090  1,593,556





Raul Kalev

PR-manager

+372 6460 220