Attachment:

Consolidated balance sheet and income statement of ČESKÝ TELECOM prepared in accordance with International Financial Reporting Standards. Consolidated financial statements are based on 51% proportional consolidation of Eurotel to 30 November 2003 and full consolidation from December 2003 on. All figures in CZK million.

BALANCE SHEET / 31.3.2004 / 31.12.2003

Fixed Assets

/ 135,283 / 139,599
- Property, plant and equipment / 107,374 / 110,320
- Intangible fixed assets / 13,886 / 14,943
- Goodwill / 13,851 / 14,028
- Available-for-sale and held-to-maturity investments / 160 / 298
- Investments / 12 / 10
Current Assets / 15,356 / 15,107
- Inventories / 1,078 / 1,100
- Receivables and prepayments / 9,683 / 9,081
- Cash and cash equivalents 1) / 4,595 / 4,926
Total Assets / 150,639 / 154,706
Total Equity / 91,509 / 90,148
- Share capital / 32,209 / 32,209
- Reserves / 59,300 / 57,939
Minority interest / 7 / 9
Liabilities / 59,123 / 64,549
- Loans and overdrafts / 41,621 / 45,065
- Creditors / 9,617 / 10,980
- Deferred taxes / 7,885 / 8,504
Total Equity and Liabilities / 150,639 / 154,706
INCOME STATEMENT / 31.3.2004 / 31.3.2003
Revenues / 15,030 / 12 712
Operating costs excl. depreciation and amortization / (7,456) / (6,381)
EBITDA / 7,574 / 6,331
Depreciation and amortization / (5,216) / (4,623)
EBIT / 2,358 / 1,708
Interest expense / (358) / (358)
Interest income / 27 / 92
Net foreign exchange gains/(losses) 2) / (352) / 1
Other financial charges / (77) / (18)
Profit/Loss Before Tax / 1,598 / 1,425
Income Tax / (201) / (459)
Group profit/loss before minority interest / 1,397 / 966
Minority interest / 2 / 5
Net Profit/Loss after Tax / 1,399 / 971

1) Including available-for-sale and held-to-maturity investments

2) Including fair-value gains/(losses) on financial instruments

ČESKÝ TELECOM, a.s.
Tiskový odbor
tel: +420 2 7146 3359
fax: +420 2 7146 9896 / www.telecom.cz
archiv vydaných tiskových zpráv:
http://www.telecom.cz/infocentrum/index.html
e-mail: