EESTI TELEKOM

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, Q2 2001



Audited

In thousands of kroons (EEK)



                      Note    30 June    31 Dec   30 June

                                 2001      2000      2000

                                     (corrected)(corrected)

                                                       

ASSETS                                                  

Current assets                                          

Cash and cash                  245,254   609,743   648,637

equivalents

Short-term investments               0         0    40,000

Trade receivables, net         395,985   374,897   390,201

Other receivables               38,300    33,214    34,691

Accrued income                  95,520    58,986    76,110

Prepaid expenses                27,606    64,014    18,227

Inventories                    160,566   149,223   148,392

Total current assets           963,231 1,290,077 1,356,258

                                                   

Non-current assets                                      

Long term financial     3,4     36,824    29,213     6,339

assets

Tangible assets, net      2  3,127,977 3,234,088 2,941,941

Intangible assets, net    2     56,255    67,603    53,319

Total non-current            3,221,056 3,330,904 3,001,599

assets

                                                          

TOTAL ASSETS                 4,184,287 4,620,981 4,357,857

                                                        

EQUITY AND LIABILITIES                                  

Current liabilities                                     

Interest bearing loans    5    207,890   161,392    48,845

and borrowings

Customer prepayments             6,083     6,619     6,034

Accounts payable to            204,518   361,996   223,782

suppliers

Other payables                     647       119         0

Tax liabilities                129,714    36,844    56,167

Accrued expenses               133,290   194,195   716,001

Provisions                       6,427    14,338     6,047

Prepaid revenue                 43,401    44,274    46,038

Total current                  731,970   819,777 1,102,914

liabilities

                                                   

Non-current                                                 

liabilities

Interest bearing loans    5   116,452   200,978   226,134

and borrowings

Other long-term                      0         0     7,252

payables

Total non-current              116,452   200,978   233,386

liabilities

                                                        

Minority interest                    0     8,193    10,078

                                                        

Equity                    6                            

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

Share premium                  309,964   309,964   309,964

Statutory legal                137,384   124,963   124,963

reserve

Retained earnings            1,015,235   661,465   661,465

Net profit for the             499,449 1,121,808   541,254

period

Total equity                 3,335,865 3,592,033 3,011,479

                                                        

TOTAL EQUITY AND             4,184,287 4,620,981 4,357,857

LIABILITIES





Hille Võrk

Financial manager

6 272 460