KLEMENTI

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 31.03.2001



Consolidated, unaudited

in thousand EEK



ASSETS                                     31.03.01  31.12.00



CURRENT ASSETS

1.Cash and bank                               4,713     3,064

2.Customer receivables                       17,724    14,349

3.Other receivables and                       1,061     1,621

accrued income

4.Prepaid expenses                              780     1,114

5.Inventories                                24,580    25,727

5.1.Raw materials                             3,991     5,071

5.2.Work-in-progress                          3,939     5,673

5.3.Finished goods                           14,048    13,708

5.4.Merchandise purchased for resale          2,577       842

5.5.Prepayments to suppliers                     25       433

TOTAL CURRENT ASSETS                         48,858    45,875

NON-CURRENT ASSETS

6.Long-term financial assets                  2,820     2,801

7.Tangible assets                            48,167    47,630

7.1.Land and buildings                       36,128    35,928

7.2.Plant and equipment                      24,211    23,561

7.3.Other inventory                           7,602     7,191

7.4.Accumulated depreciation                -20,660   -19,690

7.5.Fixed assets under construction             886       640

8.Intangible assets                             846       969

Total non-current assets                     51,833    51,400

TOTAL ASSETS                                100,691    97,275



LIABILITIES AND OWNERS' EQUITY

LIABILITIES

CURRENT LIABILITIES

9.Debt obligations                           25,679    21,646

10.Customer prepayments                          13         0

for goods and services

11.Supplier payables                          4,605     5,138

12.Other payables                               146         0

13.Tax liabilities                            2,827     2,581

14.Accrued expenses                           4,123     2,869

15.Other prepaid revenue                         12        12

16.Current provisions                            12         0

Total current liabilities                    37,417    32,246

Non-current liabilities

17.Long-term debt obligations                18,434    17,996

18.Non-current provisions                        68        68

Total non-current liabilities                18,502    18,064

TOTAL LIABILITIES                            55,919    50,310



OWNERS' EQUITY

19.Share capital                             35,250    35,250

20.Capital surplus                            3,774     3,774

21.Revaluation reserve                          816       816

22.Other restricted reserves                    923       863

23.Retained earnings                          6,202     4,983

24.Net loss for the period                   -2,193     1,279

Total owners' equity                         44,772    46,965

TOTAL LIABILITIES AND OWNERS' EQUITY        100,691    97,275





Airi Kamratov

Chief Accountant

+372 6 710 708