| MERKEZ SIGORTA A.S. | ||||||||||||||||||||
| COMPARATIVE BALANCE SHEET ANALYSIS IN PERCENTAGE METHOD | ||||||||||||||||||||
| (Currency in US Dollars) | ||||||||||||||||||||
| ASSETS | 1995 | PERCENTAGE | 1996 | PERCENTAGE | 1997 | PERCENTAGE | 1998 | PERCENTAGE | 1999 | PERCENTAGE | ||||||||||
| A | B | A | B | A | B | A | B | A | B | |||||||||||
| A. CURRENT ASSETS | ||||||||||||||||||||
| I. LIQUID ASSETS | 1.308.470 | 10,36 | 9,46 | 3.225.155 | 30,64 | 28,65 | 2.911.361 | 27,09 | 25,97 | 56.558 | ,53 | ,52 | 38.279 | ,33 | ,33 | |||||
| A. Liquid Assets | 101.770 | ,81 | ,74 | 45.588 | ,43 | ,40 | 15.660 | ,15 | ,14 | 10.141 | ,10 | ,09 | 19.004 | ,17 | ,16 | |||||
| B. Banks | 1.206.700 | 9,55 | 8,73 | 3.179.567 | 30,20 | 28,24 | 2.895.701 | 26,95 | 25,83 | 46.417 | ,44 | ,42 | 19.275 | ,17 | ,16 | |||||
| II.MARKETABLE SECURITIES | 4.538.408 | 35,92 | 32,82 | 4.911.695 | 46,66 | 43,63 | 5.142.805 | 47,86 | 45,88 | 7.999.003 | 75,66 | 72,97 | 9.178.951 | 80,15 | 78,04 | |||||
| A. Marketable Securities | 4.538.408 | 35,92 | 32,82 | 4.911.695 | 46,66 | 43,63 | 5.142.805 | 47,86 | 45,88 | 8.133.041 | 76,93 | 74,19 | 9.178.951 | 80,15 | 78,04 | |||||
| B. Provision for Marketable Securities' Loss (-) | ,00 | ,00 | (134.038) | (1,27) | (1,22) | ,00 | ,00 | |||||||||||||
| III. RECEIVABLES | 6.786.817 | 53,72 | 49,07 | 2.390.551 | 22,71 | 21,23 | 2.692.070 | 25,05 | 24,02 | 2.516.239 | 23,80 | 22,95 | 2.234.505 | 19,51 | 19,00 | |||||
| A. Insured Clients | 902.645 | 7,14 | 6,53 | 431.420 | 4,10 | 3,83 | 567.066 | 5,28 | 5,06 | 588.177 | 5,56 | 5,37 | 510.106 | 4,45 | 4,34 | |||||
| B. Agencies | 6.108.023 | 48,35 | 44,17 | 1.860.193 | 17,67 | 16,52 | 1.838.115 | 17,10 | 16,40 | 1.785.989 | 16,89 | 16,29 | 1.564.315 | 13,66 | 13,30 | |||||
| C. Insurance and Reinsurance Companies | 20.875 | ,17 | ,15 | 15.919 | ,15 | ,14 | (4.636) | (,04) | (,04) | 27.156 | ,26 | ,25 | 23.041 | ,20 | ,20 | |||||
| D. Reserves at Cedant and Retrocedant Companies | 5.658 | ,04 | ,04 | 16.393 | ,16 | ,15 | 23.916 | ,22 | ,21 | 30.748 | ,29 | ,28 | 28.570 | ,25 | ,24 | |||||
| E. Other Receivables | (250.383) | (1,98) | (1,81) | 66.626 | ,63 | ,59 | 267.610 | 2,49 | 2,39 | 84.170 | ,80 | ,77 | 108.473 | ,95 | ,92 | |||||
| F. Doubtful Receivables | 911.694 | 8,66 | 8,10 | 475.001 | 4,42 | 4,24 | 252.483 | 2,39 | 2,30 | 139.328 | 1,22 | 1,18 | ||||||||
| G. Provision for Doubtful Receivables (-) | (911.694) | (8,66) | (8,10) | (475.001) | (4,42) | (4,24) | (252.483) | (2,39) | (2,30) | (139.328) | (1,22) | (1,18) | ||||||||
| TOTAL CURRENT ASSETS | 12.633.695 | 100,00 | 91,35 | 10.527.401 | 100,00 | 93,51 | 10.746.236 | 100,00 | 95,87 | 10.571.800 | 100,00 | 96,43 | 11.451.735 | 100,00 | 97,36 | |||||
| B. LONG TERM ASSETS | ||||||||||||||||||||
| IV.PARTICIPATIONS | ||||||||||||||||||||
| A. Participations | ||||||||||||||||||||
| B. Provision for Participation Value Loss (-) | ||||||||||||||||||||
| V.FIXED ASSETS | 727.131 | 60,79 | 5,26 | 685.877 | 93,92 | 6,09 | 462.624 | 100,00 | 4,13 | 390.935 | 100,00 | 3,57 | 310.578 | 100,00 | 2,64 | |||||
| A. Movable Assets | 444.379 | 37,15 | 3,21 | 364.996 | 49,98 | 3,24 | 253.750 | 54,85 | 2,26 | 172.518 | 44,13 | 1,57 | 117.217 | 37,74 | 1,00 | |||||
| B. Immovable Assets | 118.124 | 9,88 | ,85 | 235.080 | 32,19 | 2,09 | 176.345 | 38,12 | 1,57 | 205.051 | 52,45 | 1,87 | 189.270 | 60,94 | 1,61 | |||||
| C. Special Costs | 164.628 | 13,76 | 1,19 | 85.801 | 11,75 | ,76 | 32.529 | 7,03 | ,29 | 13.366 | 3,42 | ,12 | 4.091 | 1,32 | ,03 | |||||
| VI.OTHER CURRENT ASSETS (NET) | 469.045 | 39,21 | 3,39 | 44.425 | 6,08 | ,39 | ||||||||||||||
| TOTAL LONG TERM ASSETS | 1.196.176 | 100,00 | 8,65 | 730.301 | 100,00 | 6,49 | 462.624 | 100,00 | 4,13 | 390.935 | 100,00 | 3,57 | 310.578 | 100,00 | 2,64 | |||||
| TOTAL ASSETS | 13.829.871 | 100,00 | 11.257.702 | 100,00 | 11.208.860 | 100,00 | 10.962.735 | 100,00 | 11.762.313 | 100,00 | ||||||||||