EESTI TELEKOM

BALANCE SHEET



EESTI TELEKOM, CONSOLIDATED BALANCE SHEET



AS EESTI TELEKOM AND SUBSIDIARY COMPANIES

BALANCE SHEET (unaudited)

In thousand of Estonian kroons

                        31-Mar-01  31-Dec-00  31-Mar-00

ASSETS                                              

Current assets                                      

Cash and cash             681,430    609,743    647,252

equivalents

Short-term investments          0          0     40,000

Trade receivables         370,479    374,897    360,581

Other receivables          55,328     33,214     52,099

Accrued income             83,282     58,986     76,143

Prepaid expenses           54,148     64,014     15,568

Inventories               196,740    149,223    123,166

Total current assets    1,441,407  1,290,077  1,314,809

                                               

Non-current assets                                  

Long term financial        35,237     29,213      6,142

assets

Tangible assets         3,152,975  3,234,088  2,901,888

Intangible assets          62,357     67,603     57,606

Total non-current       3,250,569  3,330,904  2,965,636

assets

TOTAL ASSETS            4,691,976  4,620,981  4,280,445

                                                    

EQUITY AND LIABILITIES                              

Current liabilities                                 

Interest bearing loans    154,443    161,392     49,343

and borrowings

Customer prepayments        6,763      6,619      7,269

Accounts payable to       218,247    361,996    166,551

suppliers

Other payables                 11        119        376

Tax liabilities            55,769     36,844    121,643

Accrued expenses          141,507    194,195    176,842

Provisions                 13,104     14,338      8,188

Prepaid revenue            44,969     44,274     44,353

Total current             634,813    819,777    574,565

liabilities

                                               

Non-current                                              

liabilities

Interest bearing loans    182,845    200,978    424,910

and borrowings

Other long-term                 0          0      7,252

payables

Total non-current         182,845    200,978    432,162

liabilities

Minority interest           6,971      8,193      8,337

                                                    

Equity                                              

Issued capital          1,373,833  1,373,833  1,373,833

Share premium             309,964    309,964    309,964

Legal reserve             124,963    124,963     56,851

Retained earnings       1,783,273    607,143  1,279,120

Net profit for the        275,314  1,176,130    245,613

period

Total equity            3,867,347  3,592,033  3,265,381

TOTAL EQUITY AND        4,691,976  4,620,981  4,280,445

LIABILITIES





Hille Võrk

Financial manager

6 272 460