NORMA

BALANCE SHEET



PARENT COMPANY BALANCE SHEET AS OF  31.12.2001



unaudited

                                     EEK in thousands   EUR in thousands

Assets

                                  31.12.01  31.12.00  31.12.01  31.12.00

Current assets			    	

Cash and bank accounts		    57 647    54 903     3 684     3 509

Marketable securities 		   123 452    88 300     7 890     5 643

Accounts receivable 		   179 026   126 800    11 442     8 104

Allowance for doubtful receivables -12 791   -16 395      -817    -1 048

Other receivables and prepayments   99 274    90 155     6 345     5 762

Inventories  			    77 357    59 332     4 944     3 792

Total current assets		   523 965   403 095    33 487    25 762

Non-current assets		    

Long-term financial assets 	    76 634    73 430     4 898     4 693

Property, plant and equipment  	   121 996    97 281     7 797     6 217

Intangible assets 		      1120     1 271        72        81

Total non-current assets	   199 750   171 982    12 766    10 992

Total assets                       723 715   575 077    46 254    36 754



Liabilities  and  owners´  equity         

Liabilities

Current liabilities                

Accounts payable and accrued exp.  108 939    71 940     6 962     4 598 

Total current liabilities	   108 939    71 940     6 962     4 598

Total liabilities		   108 939    71 940     6 962     4 598

Owners` equity                                          

Share capital (par value)	   132 000   132 000     8 436     8 436

Retained earning and reserves 	   305 137   213 688    19 502    13 657

Net profit 			   177 638   157 449    11 353    10 063

Total owners´ equity		   614 776   503 137    39 291    32 156

Total liabilities and owner equity 723 715   575 077    46 254    36 754





Peep Siimon

Chairman of the Board

+372-6500-442