PRO KAPITAL GRUPP

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 31.12.2000



Consolidated

Unaudited

in thousand EEK



                                           31.12.2000 31.12.1999

ASSETS

Cash and bank                                  49,480      9,596

Marketable securities                             400        400

Customer receivables                          205,126     19,653

Other receivables                              59,245     39,484

Accrued income                                     84        529

Prepaid expenses                               81,862     13,687

Inventories                                   674,047    120,322

Total current assets                        1,070,245    203,671

Long-term financial assets                     26,748     29,320

Tangible assets                             1,017,638    757,475

Intangible assets                              75,124     50,715

Total noncurrent assets                     1,119,510    837,510



TOTAL ASSETS                                2,189,755  1,041,181





LIABILITIES AND OWNER' S EQUITY

Debt obligations                               94,970    103,402

Customer prepayments for goods and services    97,193     32,836

Supplier payables                              69,244     40,953

Tax liability                                  10,034      1,070

Accrued expenses                               13,184      4,510

Total current liabilities                     284,625    182,771

Long-term debt obligations                    240,934    272,893

Other long-term payables                      343,476     16,183

Long-term provisions                           22,374

Total noncurrent liabilities                  606,783    289,076

Minority interest                             203,730     18,016

Share capital                                 348,084    225,000

Paid-in capital over/under par                638,747    257,414

Restricted reserves                            34,431     71,092

Retained earnings                              -2,412     -5,213

Net profit/loss for the financial year         73,616      2,801

Exchange differences                            2,152        224

Total owners equity                         1,094,617    551,318



TOTAL LIABILITIES AND OWNER' S EQUITY       2,189,755  1,041,181





Ilona Saari

PK Grupp, Board member

+372 614 4924