KLEMENTI

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS OF 30.06.2000



Consolidated, unaudited

in thousand EEK

                                          30.06.00 31.12.99

ASSETS



CURRENT ASSETS

1.Cash and bank                             11,304    4,458

2.Customer receivables                      11,162   10,365

3.Other receivables and                     11,737    1,752

accrued income

4.Prepaid expenses                           3,370    1,461

5.Inventories                               35,045   25,258

5.1.Raw materials                           12,615    4,893

5.2.Work-in-progress                         8,441    6,405

5.3.Finished goods                          12,901   12,848

5.4.Merchandise purchased for resale         1,196      695

5.5.Prepayments to suppliers                   273      417

5.6.Reserve for revaluation                   -381        0

and write-off of inventories



TOTAL CURRENT ASSETS                        72,618   43,294

NON-CURRENT ASSETS

7.Long-term financial assets                    52       52

7.Tangible assets                           35,656   34,244

7.1.Land and buildings                      28,945   28,640

7.2.Plant and equipment                     17,256   16,713

7.3.Other inventory                          5,646    5,343

7.4.Accumulated depreciation               -18,091  -16,832

7.5.Fixed assets under construction          1,886      380

7.6.Prepayments for tangible assets             14        0

8.Intangible assets                          1,983    1,371

Total non-current assets                    37,691   35,667

TOTAL ASSETS                               110,309   78,961



LIABILITIES AND OWNERS' EQUITY

Current liabilities

9.Debt obligations                          33,510   16,717

10.Customer prepayments                          1       27

for goods and services

11.Supplier payables                         9,485    4,426

12.Tax liabilities                           1,653    4,582

13.Accrued expenses                          3,211    2,957

14.Other prepaid revenue                        12        0

Total current liabilities                   47,872   28,709

Non-current liabilities

15.Long-term debt obligations               21,390   13,116

16.Other long-term payables                      0    2,450

Total non-current liabilities               21,390   15,566

Total liabilities                           69,262   44,275



Owners' equity

18.Share capital                            35,250   24,250

19.Capital surplus                           3,774    3,774

20.Revaluation reserve                         816      816

21.Other restricted reserves                   863      863

22.Retained earnings                         4,983    7,778

23.Net loss for the period                  -4,639   -2,795

Total owners' equity                        41,047   34,686

TOTAL LIABILITIES AND OWNERS' EQUITY       110,309   78,961





Madis Võõras

Management Board Chairman

+372 6 710 700