28.02.2002, Tallinna Farmaatsiatehas, TLN

Tallinna Farmaatsiatehas      INCOME STATEMENT                  02/28/2002



INCOME STATEMENT 01.01-31.12.01



Unaudited

in thousand EEK/EUR                             EEK              EUR

                                           2001     2000     2001    2000

REVENUE



NET SALES                                 84,849  102,172    5,423    6,530

CHANGE IN WORK-IN-PROGRESS AND

FINISHED GOODS INVENTORIES                 1,487   -1,076       95      -69

OTHER OPERATING INCOME                     8,945    8,502      572      543

TOTAL REVENUE                             95,282  109,599    6,090    7,005



EXPENSES



MATERIALS, CONSUMABLES AND SUPPLIES      -42,184  -47,775   -2,696   -3,053

OTHER OPERATING EXPENSES                  -7,237  -14,874     -463     -951

PERSONNEL EXPENSES

   WAGES & SALARIES                      -13,322  -12,839     -851     -821

   SOCIAL TAXES                           -4,579   -4,398     -293     -281

DEPRECIATION                              -5,350   -5,325     -342     -340



OTHER EXPENSES                            -6,288   -7,120     -402     -455



TOTAL EXPENSES                           -78,960  -92,330   -5,046   -5,901



OPERATING PROFIT (-LOSS)                  16,321   17,268    1,043    1,104



FINANCIAL INCOME                              51       64        3        4

FINANCIAL EXPENSES                        -5,984   -6,745     -382     -431



NET PROFIT (LOSS)                         10,388   10,587      664      677





EARNINGS (LOSS) PER SHARE (EEK/EUR)         8.31     8.47     0.53     0.54





Raivo Unt

CFO

+372 6 120 201