FAKTO

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.09.2000



Consolidated, unaudited

in thousand EEK



Assets                                            AS Fakto          Group

Current assets                              30.09.00 30.09.99 30.09.00 30.09.99



Cash and bank                                    467       73    1,931    6,649



Customer receivables

Accounts receivable                            7,640    9,793   22,546   24,042

Allowance for doubtful accounts (less)          -464     -368   -1,039     -866

Total customer receivables                     7,176    9,425   21,507   23,176



Other receivables

Receivables from subsidiaries and

parent company                                 8,189    4,820        0   -3,000

Other current receivables                      6,196    6,042    8,844   11,078

Total other receivables                       14,385   10,862    8,844    8,078



Accrued income

Calculated interests                               1        0       24       13

Total accrued income                               1        0       25       13



Prepaid expenses and prepaid tax receivables

Prepaid tax receivables                          537      302    4,547    2,911

Prepaid expenses                                 300      337      219      273

Total prepaid expenses                           838      639    4,765    3,184



Inventories

Raw materials                                     11        8       11        8

Work-in-progress                                 216      315      216      315

Merchandise purchased for resale               5,860    6,032   30,061   32,131

Prepayments to suppliers                           0        0      952       10

Total inventories                              6,087    6,355   31,241   32,464



Total current assets                          28,953   27,354   68,313   73,565



Non-current assets

Long-term financial assets

Stock and shares in subsidiaries               7,248    7,565        0        0

Goodwill                                         633    1,013      633    1,013

Stock and shares in associated companies         100        0      100        0

Other non-current receivables                  4,522    4,000    2,070    5,190

Total long-term financial assets              12,503   12,578    2,803    6,203



Tangible assets

Land and building                             46,599   47,404   71,609   72,408

Plant and equipment                            7,437    7,967   16,265   14,714

Other equipment and fixtures                   2,616    2,253    7,044    6,903

Accumulated depreciation (less)              -20,370  -18,537  -27,256  -24,469

Total tangible assets                         36,283   39,086   67,662   69,555



Intangible assets

Purchased  patents, licenses etc.                151      130      432      433

Total intangible assets                          151      130      432      433



Total non-current assets                      48,936   51,794   70,897   76,191



Total assets                                  77,889   79,148  139,210  149,755





Liabilities and owners' equity                    AS Fakto          Group

                                            30.09.00 30.09.99 30.09.00 30.09.99

Current liabilities



Short-term borrowings

Current period repayment of long-term debt     2,200    2,192    2,872    2,864

Short-term loans from financial institutions   5,228    5,106    6,328    5,116

Debentures                                        44       75    4,232    4,064

Total short-term borrowings                    7,472    7,373   13,431   12,044



Customer prepayments                           1,784    7,526    1,900    8,721



Supplier payables                             17,189   14,325   45,482   48,263



Tax liabilities                                3,158    2,859    3,933    3,907



Accrued expenses

Salary-related accrued expenses                2,387    1,938    4,164    3,421

Dividends payable                                  0        0       70      336

Interest payable                                  39       41    2,693    2,533

Other accrued expenses                            90      195      392      695

Total accrued expenses                         2,515    2,173    7,319    6,985



Current liabilities                                0        0    1,458      441



Total current liabilities                     32,118   34,257   73,523   80,361



Non-current liabilities



Long-term borrowings

Non-convertible long-term debt                     0       58    2,244       58

Bank loans                                    11,550   10,000   24,173   25,311

Long-term borrowings

from financial institutions                        0        0    1,531    5,636

Total long-term borrowings                    11,550   10,058   27,948   31,005



Other long-term debt obligations

Deferred income tax liability                      0    2,164        0    2,234

Total other long-term debt                         0    2,164        0    2,234



Total non-current liabilities                 11,550   12,222   27,948   33,239



Total liabilities                             43,668   46,478  101,470  113,599



Minority interest                                  0        0    3,518    3,486



Owners' equity

Share capital in nominal value                16,501   16,501   16,501   16,501

Capital surplus                                7,307    7,307    7,307    7,307

Restricted reserves                              808      767      808      767

Retained earnings                              9,769    9,167    9,769    9,167

Profit/loss for the financial year              -163   -1,071     -163   -1,071

Total owners' equity                          34,221   32,670   34,221   32,670



Total liabilities and owners' equity          77,889   79,148  139,210  149,755





Toivo Urva

Management Board chairman

+372 638 9200