EESTI TELEKOM

REPORT



GROUP STATEMENT OF CHANGES IN EQUITY, 9M 2000



ESTONIAN TELECOM AND SUBSIDIARY COMPANIES

In thousands of Estonian kroons



                               30-Sep-00  30-Sep-99

Issued capital                            

                                          

137 383 178 ordinary shares    1,373,832  1,373,832

at EEK 10.00 per share,

fully paid

1 preferential share at EEK            1          1

1000.00 per share, fully

paid

Total                          1,373,833  1,373,833

                                          

Share premium                             

Opening balance                  309,964      4,525

Premium on ordinary shares             0    305,439

issued

Closing balance                  309,964    309,964

                                          

Legal reserves                            

Opening balance                   56,851     25,478

Amounts transferred from          68,112     31,373

accumulated profits

Closing balance                  124,963     56,851

                                          

Accumulated profits                       

Opening balance                1,279,120    821,732

Net profit for the period        871,138    491,919

Amounts transferred to legal     -68,112    -31,373

reserves

Dividends paid                  -549,543    -62,757

Tax on dividends                     -76          0

Closing balance                1,532,527  1,219,521





Raul Kalev

PR manager

+372 6 272 466