EESTI TELEKOM

BALANCE SHEET



CONSOLIDATED BALANCE SHEET AS OF 30.09.2001



AS EESTI TELEKOM AND SUBSIDIARY COMPANIES

BALANCE SHEETS

In thousands of Estonian kroons (EEK)

                          30 Sept 2001    31 Dec   30 Sept

                                           2000      2000

                                     (corrected (corrected

                                              )         )

ASSETS                                                 

Current assets                                         

Cash and cash equivalents     196,079   609,743   518,875

Trade receivables, net        402,182   374,897   388,531

Other receivables              56,825    33,214    41,306

Accrued income                 98,541    58,986    93,726

Prepaid expenses               20,364    64,014    19,094

Inventories                   157,925   149,223   134,294

Total current assets          931,916 1,290,077 1,195,826

                                                  

Non-current assets                                     

Long term financial            35,962    29,213    21,217

assets

Tangible assets, net        3,131,601 3,234,088 3,004,459

Intangible assets, net         47,463    67,603    49,998

Total non-current assets    3,215,026 3,330,904 3,075,674

                                                         

TOTAL ASSETS                4,146,942 4,620,981 4,271,500

                                                       

EQUITY AND LIABILITIES                                 

Current liabilities                                    

Interest bearing loans         40,234   161,392   162,727

and borrowings

Customer prepayments            8,364     6,619     6,296

Accounts payable to           190,365   361,996   224,918

suppliers

Other payables                      0       119         0

Tax liabilities                61,463    36,844    63,490

Accrued expenses              132,926   194,195   202,595

Provisions                     16,613    14,338     4,658

Prepaid revenues               45,996    44,274    45,969

Total current liabilities     495,961   819,777   710,653

                                                  

Non-current liabilities                                    

Interest bearing loans        101,733   200,978   208,008

and borrowings

Total non-current             101,733   200,978   208,008

liabilities

                                                       

Minority interest                   0     8,193    11,552

                                                       

Equity                                                 

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

Share premium                 309,964   309,964   309,964

Statutory legal reserve       137,384   124,963   124,963

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

Net profit for the period     713,832 1,121,808   871,062

Total equity                3,549,248 3,592,033 3,341,287

                                                       

TOTAL EQUITY AND            4,146,942 4,620,981 4,271,500

LIABILITIES





Kadri Lensment

Management Assistant

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