PRO KAPITAL GRUPP

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.06.2001



Consolidated

Unaudited

in thousand EEK

                                                30.06.2001 31.12.2000



ASSETS

Cash and bank                                      212,306     49,480

Marketable securities                                  400        400

Customer receivables                               244,322    205,126

Other receivables                                   52,708     59,245

Accrued income                                                     85

Prepaid expenses                                    90,190     81,862

Inventories                                        690,888    674,047

Total current assets                             1,290,814  1,070,245

Long-term financial assets                         177,564     26,748

Tangible assets                                  1,341,471  1,017,638

Intangible assets                                   52,896     75,124

Total noncurrent assets                          1,571,931  1,119,510



TOTAL ASSETS                                     2,862,745  2,189,755





LIABILITIES AND OWNER' S EQUITY

Debt obligations                                    32,767     94,970

Customer prepayments for goods and services        128,346     97,193

Supplier payables                                  121,413     69,244

Tax liability                                       13,426     10,034

Accrued expenses                                    14,793     13,184

Total current liabilities                          310,745    284,625

Long-term debt obligations                         901,862    240,934

Other long-term payables                           327,715    343,476

Long-term provisions                                30,938     22,373

Total noncurrent liabilities                     1,260,515    606,783

Minority interest                                  217,890    203,730

Share capital                                      348,084    348,084

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

Restricted reserves                                 49,154     34,431

Retained earnings                                   56,481     -2,412

Net profit/loss for the financial year             -25,251     73,616

Exchange differences                                 6,380      2,151

Total owners equity                              1,073,595  1,094,617



TOTAL LIABILITIES AND OWNER' S EQUITY            2,862,745  2,189,755





Additional information:

Eve Õnnis

PK Grupp, Chief Accountant

Tel. +372 614 4920





Aivar Pihlak

PK Grupp, Board member

+372 614 4920