EESTI TELEKOM

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT 01.01.00-31.12.00



Estonian Telecom Limited and Subsidiary Companies



Income statement for year ended 31 December 2000



In thousands of kroons (EEK)

                               G R O U P

                               2000       1999

Revenue                              

Net sales                 3,930,154  3,568,523

Change in work-in-             (492)      (994)

progress

Other revenue                43,829     27,714

Total revenue             3,973,491  3,595,243

Operating expenses                            

Materials, consumables,    (925,884)  (837,516)

supplies and services

Other operating            (427,007)  (385,029)

expenses

Personnel expenses         (484,494)  (466,208)

Other expenses              (58,062)   (70,156)

Total expenses           (1,895,447)(1,758,909)

Profit from operations    2,078,044  1,836,334

before

depreciation                                  

Depreciation and           (969,305)  (881,059)

amortisation

Profit from operations    1,108,739    955,275

                                              

Income from                    (310)       648

subsidiaries and

associates

Other net financing         (11,854)   (51,040)

items

Profit before tax         1,096,575    904,883

                                              

Income tax expense (-)            -   (156,266)

/ income (+)

Profit after tax          1,096,575    748,617

                                              

Minority interest            (5,642)   (83,158)

Net profit from           1,090,933    665,459

ordinary activities

                                              

Extraordinary item           85,197    (85,197)

Net profit for the        1,176,130    580,262

period

                                     

Earnings per share                   

Basic earnings per             8.56       4.78

share (in kroons)

Diluted earnings per           8.56       4.78

share (in kroons)





Hille Võrk

Financial Manager

+372 6 272 460