TYPE OF FINANCIAL SITUATION VM County 12 PROPERTY FORM 34 County Cluj Joint-stock company JURIDICAL PERSON MAIN ACTIVITY BT SECURITIES SA.................................. (name of NACE class) ADDRESS: CITY CLUJ NAPOCA................... sector 0 Activities of transactions intermediation Str.21 DECEMBRIE 1989 NO 104...... no. NACE CLASS CODE Bl. Fl. Sc. 6712 TELEPHONE 0264/430564 NUMBER IN COMMERCE REGISTRY J12/3156/1994 UNIQUE REGISTRATION CODE 6838953 BALANCE SHEET concluded on 31/12/2008 Page 1 Form : 10 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | BALA|NCE | | | |_______________|_______________| | | | BEGINNING | END | | | | OF THE YEAR | OF THE YEAR | ________________________________________________________________________________________ |A. FIXED ASSETS I. NON-CORPORAL IMMOBILIZATIONS | 1| 0| 0| |1. Constitution expenses (acc. 201-2801) | | | | ________________________________________________________________________________________ |2. Development expenses (acc. 203-2803-2903) | 2| 0| 0| ________________________________________________________________________________________ |3. Concessions, brecets, licenses, marks, | 3| 114178| 58318| |similar rights and other non-corporal | | | | |immobilizations(acc. 205+208-2805-2808-2905-2908) | | | | ________________________________________________________________________________________ |4. Commercial fund (acc. 2071-2807-2907) | 4| 0| 0| ________________________________________________________________________________________ |5. Advances and non-corporal immobilizations in | 5| 0| 163496| |progress (acc. 233+234-2933) | | | | ________________________________________________________________________________________ |TOTAL: (row 01 to 05) | 6| 114178| 221814| ________________________________________________________________________________________ |II. CORPORAL IMMOBILIZATIONS 1. Lands and | 7| 136540| 184361| |Constructions (acc. 211+212-2811-2812-2911-2912) | | | | ________________________________________________________________________________________ |2. Technical installations and machines | 8| 708965| 602520| |(acc. 213-2813-2913) | | | | ________________________________________________________________________________________ |3.Other installations, plants and furniture | 9| 32018| 52537| |(acc. 214-2814-2914) | | | | ________________________________________________________________________________________ Page 2 Form: 10 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | BALA|NCE | | | |_______________|_______________| | | | BEGINNING | END | | | | OF THE YEAR | OF THE YEAR | ________________________________________________________________________________________ |4. Advances and corporal immobilizations in | 10| 0| 0| | progress (acc. 231+232-2931) | | | | ________________________________________________________________________________________ |TOTAL: (row 07 to 10) | 11| 877523| 839418| ________________________________________________________________________________________ |III. FINANCIAL IMMOBILIZATIONS 1. Shares | 12| 3| 5| |possessed at affiliated entities (acc. 261-2961 ) | | | | ________________________________________________________________________________________ |2. Loans granted to affiliated entities | 13| 0| 0| |(acc. 2671+2672-2965) | | | | ________________________________________________________________________________________ |3. Participation interests (ct. 263-2963) | 14| 0| 0| ________________________________________________________________________________________ |4. Loans granted to entities by witch the company | 15| 0| 0| | is related by participation interests | | | | | (acc. 2675+2676-2967) | | | | ________________________________________________________________________________________ |5. Titles and other financial instruments | 16| 832590| 1264281| | possessed as immobilizations | | | | | (acc. 262+264+265+266-2696-2962-2964) | | | | ________________________________________________________________________________________ |6. Other claims | 17| 599635| 1104168| |(acc.2673+2674+2678+2679-2966-2969) | | | | ________________________________________________________________________________________ |TOTAL: (row 12 to 17) | 18| 1432228| 2368454| ________________________________________________________________________________________ |FIXED ASSETS- TOTAL (row 06+11+18) | 19| 2423929| 3429686| ________________________________________________________________________________________ |B. CIRCULATING ASSETS I. STOCKS 1. Consumable| 20| 1800| 1729| |materials (acc.302+303+/-308+351-392-395) | | | | ________________________________________________________________________________________ |2. Works and services in progress | 21| 0| 0| |(acc. 332-394) | | | | ________________________________________________________________________________________ |3. Advances for stocks acquisitions (acc. 4091) | 22| 0| 0| ________________________________________________________________________________________ |TOTAL: (row 20 to 22) | 23| 1800| 1729| ________________________________________________________________________________________ |II. CLAIMS 1.Commercial claims (acc. 2675*+2676* | 24| -51801| -62601| |+2678*+2679*-2966*-2969*+4092+411+413+418-491) | | | | ________________________________________________________________________________________ |2. Ammounts to be cashed from affiliated entities | 25| 0| 0| |(acc. 4511+4518-4951) | | | | ________________________________________________________________________________________ Page 3 Form: 10 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | BALA|NCE | | | |_______________|_______________| | | | BEGINNING | END | | | | OF THE YEAR | OF THE YEAR | ________________________________________________________________________________________ |3.Ammounts to be cashed from participation | 26| 0| 0| |interests (acc. 4521+4528-4952) | | | | ________________________________________________________________________________________ |4. Other claims(ct. 425+4282+431+437+4382+441+4424| 27| 36935480| 32461095| |+4428+444+445+446+447+4482+4582+461+473-496+5187) | | | | ________________________________________________________________________________________ |5. Claims regarding subscribed and unpaid capital | 28| 0| 0| |(acc. 456-4953) | | | | ________________________________________________________________________________________ |TOTAL: (row 24 to 28) | 29| 36883679| 32398494| ________________________________________________________________________________________ |III. SHORT-TERM FINANCIAL INVESTMENTS | 30| 0| 0| |1.Shares possessed in affiliated entities | | | | |(acc. 501-591) | | | | ________________________________________________________________________________________ |2. Other short-term financial investments | 31| 845260| 270011| |(acc. 5031+5032+505+5061+5062+5071+5072+5081+ | | | | |+5082...+5113+5114) | | | | ________________________________________________________________________________________ |TOTAL: (row 30 to 31) | 32| 845260| 270011| ________________________________________________________________________________________ |IV. PAY-DESK AND ACCOUNTS IN BANKS | 33| 17526576| 3759913| |(acc. 5112+5121+5122 +5123+5124+5125+5311+5314+ | | | | |+5321+5322+5323+...+542) | | | | ________________________________________________________________________________________ |CIRCULATING ASSETS- TOTAL (row 23+29+32+33) | 34| 55257315| 36430147| ________________________________________________________________________________________ |C. EXPENSES IN ADVANCE (acc. 471) | 35| 13112| 12729| ________________________________________________________________________________________ |D. DEBTS THAT HAVE TO BE PAID WITHIN 1 YEAR | 36| 0| 0| |1. Loans from bonds emission(acc. 1614+...-169) | | | | ________________________________________________________________________________________ |2. Amounts owed to credit institutions | 37| 28923538| 23415809| |(acc. 1621+1622+1624+1625+1627+1682+5191+5192+ | | | | |+5198) | | | | ________________________________________________________________________________________ |3. Advances cashed in client's account(acc. 419) | 38| 11224158| 2197786| ________________________________________________________________________________________ |4. Commercial debts (acc.401+404+408) | 39| 307452| 85145| ________________________________________________________________________________________ |5. Commercial effects to be paid (acc. 403+405) | 40| 0| 0| ________________________________________________________________________________________ |6. Amounts owed to affiliated entities | 41| 0| 0| |(acc. 1661+1685+2691+4511+4518) | | | | ________________________________________________________________________________________ Page 4 Form: 10 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | BALA|NCE | | | |_______________|_______________| | | | BEGINNING | END | | | | OF THE YEAR | OF THE YEAR | ________________________________________________________________________________________ |7. Amounts owed regarding participation interests | 42| 0| 0| |(acc. 1662+1686+2692+2693+4521+4528) | | | | ________________________________________________________________________________________ |8. Other debts incl. fiscal debts and other debts | 43| 686138| 526531| | for social securities | | | | |(acc.1623+1626+167+1687+2698+421+423+424+...+5197)| | | | ________________________________________________________________________________________ |TOTAL: (row 36 to 43) | 44| 41141286| 26225271| ________________________________________________________________________________________ |E. CIRCULATING ASSETS, RESPECTIVELY NET CURRENT | 45| 14129141| 10217605| |DEBTS (row 34+35-44-60.2) | | | | ________________________________________________________________________________________ |F. TOTAL ASSETS MINUS CURRENT DEBTS | 46| 16553070| 13647291| |(row 19+45-60.1) | | | | ________________________________________________________________________________________ |G. DEBTS THAT HAVE TO BE PAIS IN A | 47| 0| 0| |PERIOD GREATER THAN 1 YEAR | | | | |1. Loans from bond emissions.(acc. 1614+...-169) | | | | ________________________________________________________________________________________ |2. Amounts owed to credit institutions (acc. 1621+| 48| 0| 0| |+1622+1624+1625+1627+1682+5191+5192+5198) | | | | ________________________________________________________________________________________ |3. Advances cashed in clients' account (acc. 419) | 49| 0| 0| ________________________________________________________________________________________ |4. Commercial debts (acc. 401+404+408) | 50| 0| 0| ________________________________________________________________________________________ |5. Commercial effects to be paid (acc. 403+405) | 51| 0| 0| ________________________________________________________________________________________ |6. Amounts owed to affiliated entities | 52| 0| 0| |(ct. 1661+1685+2691+4511+4518) | | | | ________________________________________________________________________________________ |7. Amounts owed regarding participation interests | 53| 0| 0| |(acc. 1662+1686+2692+2693+4521+4528) | | | | ________________________________________________________________________________________ |8. Other debts incl. fiscal debts and other debts | 54| 0| 0| |for social securities | | | | |(acc.1623+1626+167+1687+2698+421+423+424+...+5197)| | | | ________________________________________________________________________________________ |TOTAL: (row 47 to 54) | 55| 0| 0| ________________________________________________________________________________________ |H. PROVISIONS FOR RISKS AND EXPENCES | 56| 0| 0| |1.Provisions for pensions and other similar | | | | | obligations (acc.1515) | | | | ________________________________________________________________________________________ |2. Provisions for taxes (acc. 1516) | 57| 0| 0| ________________________________________________________________________________________ Page 5 Form : 10 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | BALA|NCE | | | |_______________|_______________| | | | BEGINNING | END | | | | OF THE YEAR | OF THE YEAR | ________________________________________________________________________________________ |3. Other provisions | 58| 0| 0| |(acc. 1511+1512+1513+1514+1518) | | 0| 0| ________________________________________________________________________________________ |TOTAL PROVISIONS: (row 56+57+58) | 59| 0| 0| ________________________________________________________________________________________ |I. INCOMES IN ADVANCE (acc. 60.1 + 60.2), | 60| 0| 0| | out of which: | | 0| 0| ________________________________________________________________________________________ |1. subventions for investments (acc. 131) |60.1| 0| 0| ________________________________________________________________________________________ |2. incomes recorded in advance (acc. 472) |60.2| 120| 0| ________________________________________________________________________________________ |J. CAPITAL AND RESERVES | 61| 10186353| 15342495| |I. CAPITAL (row 62 + 63), out of which : | | | | ________________________________________________________________________________________ | - unpaid subscribed capital (acc. 1011) | 62| 0| 0| ________________________________________________________________________________________ | - paid-up subscribed capital (acc. 1012) | 63| 10186353| 15342495| ________________________________________________________________________________________ |II. CAPITAL BONUS (acc. 104) | 64| 0| 0| ________________________________________________________________________________________ |III. RESERVES FROM REEVALUATION | 65| 0| 0| | (acc. 105) ----- Balance C | | 0| 0| ________________________________________________________________________________________ |III. RESERVES FROM REEVALUATION | 66| 0| 0| | (acc. 105) ----- Balance D | | 0| 0| ________________________________________________________________________________________ |IV. RESERVES (acc. 68-69+70+71+72+73+73-75) | 67| 917400| 917400| ________________________________________________________________________________________ |1. Legal reserves (acc. 1061) | 68| 915482| 915482| ________________________________________________________________________________________ |2. reserves constituted from the adjusments for | 69| 0| 0| |losses of value for own shares | | | | |(acc. 1062 Balance D) | | | | ________________________________________________________________________________________ |3. Statutory or contractual reserves (acc. 1063) | 70| 0| 0| ________________________________________________________________________________________ |4. Reserves constituted from the value of titles/ | 71| 0| 0| |shares obtained with gratuitous title (acc. 1065*)| | | | ________________________________________________________________________________________ |5. Reserves from the reevaluation at fair value | 72| 0| 0| |(acc. 1066) | | | | ________________________________________________________________________________________ |6.Reserves representing the surplus obtained | 73| 0| 0| |from the reevaluation of reserves (acc. 1067) | | | | ________________________________________________________________________________________ Page 6 Form : 10 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | BALA|NCE | | | |_______________|_______________| | | | BEGINNING | END | | | | OF THE YEAR | OF THE YEAR | ________________________________________________________________________________________ |7. Other reserves (acc. 1068) | 74| 1918| 1918| ________________________________________________________________________________________ |8. Own shares (acc. 109) | 75| 0| 0| ________________________________________________________________________________________ |V. REPORTED RESULT (acc. 117) ------ Balance C | 76| 5449317| 0| ________________________________________________________________________________________ |V. REPORTED RESULT (acc. 117) ------ Balance D | 77| 0| 0| ________________________________________________________________________________________ |VI. RESULT OF THE FINANCIAL EXERCISE (acc. 121) | 78| 5774648| 0| |------ Balance C | | | | ________________________________________________________________________________________ |VI. RESULT OF THE FINANCIAL EXERCISE (acc. 121) | 79| 0| 2612604| |------ Balance D | | | | ________________________________________________________________________________________ |Profit repartition (acc. 129) | 80| 5774648| 0| ________________________________________________________________________________________ |OWN CAPITAL - TOTAL | 81| 16553070| 13647291| |(row 61+64+65-66+67+75-76+77-78-79) | | | | ________________________________________________________________________________________ Page 7 Form: 10 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | BALA|NCE | | | |_______________|_______________| | | | BEGINNING | END | | | | OF THE YEAR | OF THE YEAR | ________________________________________________________________________________________ ADMINISTRATOR, DRAWN UP BY, Name and first name Name and first name NILAS RARES MILCHIS MIHAI Illegible signature ECONOMICAL MANAGER Official Stamp Illegible signature PROFIT AND LOSS ACCOUNT Concluded on de 31/12/2008 Page 8 Form: 20 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | FINANCIAL|EXERCISE | | ITEM DENOMINATION | |_______________|_______________| | | | PREVIOUS | CONCLUDED | ________________________________________________________________________________________ |1. Net turnover (row 02 to 03) | 1| 17416158| 8169498| ________________________________________________________________________________________ |a) Incomes from current activity | 2| 17416158| 8169498| |(acc. 704+705+706+708) | | | | ________________________________________________________________________________________ |b) Incomes from exploitation subventions | 3| 0| 0| |afferent to net turnover (acc. 7411) | | | | ________________________________________________________________________________________ |2. Stocks variation (acc. 711) ------ Balance C | 4| 0| 0| ________________________________________________________________________________________ |2. Stocks variation (acc. 711) ------ Balance D | 5| 0| 0| ________________________________________________________________________________________ |3. Incomes of immolized production (acc. 721+722) | 6| 0| 0| ________________________________________________________________________________________ |4. Other incomes from exploitation (acc. 7417+758)| 7| 97454| 281902| ________________________________________________________________________________________ |INCOMES FROM EXPLOITATION - TOTAL | 8| 17513612| 8451400| |(row 01+04-05+06+07) | | | | ________________________________________________________________________________________ |5. Expenses with materials and other ouside | 9| 561323| 401292| |expenses (row 10 to 12) | | | | ________________________________________________________________________________________ |a) Expenses with consumables | 10| 55799| 63610| |(acc. 602-7412) | | | | ________________________________________________________________________________________ |b) Other material expenses (acc. 603+604) | 11| 397330| 246027| ________________________________________________________________________________________ |c) Other outside expenses (energy and water) | 12| 108194| 91655| |(acc. 605-7413) | | | | ________________________________________________________________________________________ |6. Expenses with the staff (row 14+15) | 13| 4382629| 4239967| ________________________________________________________________________________________ |a) Salaries(acc. 641+642-7414) | 14| 3401014| 3335564| ________________________________________________________________________________________ |b) Expenses with insurances and social security | 15| 981615| 904403| |(acc. 645-7415) | | | | ________________________________________________________________________________________ Page 9 Form: 20 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | FINANCIAL|EXERCISE | | ITEM DENOMINATION | |_______________|_______________| | | | PREVIOUS | CONCLUDED | ________________________________________________________________________________________ |7.a) Value adjustments regarding corporal and | 16| 312194| 384481| |non-corporal immobilizations (row 17-18) | | | | ________________________________________________________________________________________ |a.1) Expenses (acc. 6811+6813) | 17| 312194| 384481| ________________________________________________________________________________________ |a.2) Incomes (acc. 7813+7815) | 18| 0| 0| ________________________________________________________________________________________ |b) Adjustment of circulating assets value | 19| 0| 3439| |(row 20-21) | | | | ________________________________________________________________________________________ |b.1) Expenses (ct. 654+6814) | 20| 0| 116687| ________________________________________________________________________________________ |b.2) Incomes (ct. 754+7814) | 21| 0| 113248| ________________________________________________________________________________________ |8. Other exploitation expenses (row 23 to 25) | 22| 7739745| 5718167| ________________________________________________________________________________________ |a) Expenses regarding external services providing | 23| 7376696| 5302354| | (acc. 611+612+613+614+621+622+623+624+625+626+ | | | | | +627+628-7416) | | | | ________________________________________________________________________________________ |b) Expenses with other taxes, fees, and | 24| 275921| 378973| |assimilated payments (acc. 635) | | | | ________________________________________________________________________________________ |c) Expenses with compensations, donations | 25| 87128| 36840| and transferred payments (acc. 658) | | | | ________________________________________________________________________________________ |d) Adjustments regarding probvisions (acc. 27-28) | 26| 95622| -27142| ________________________________________________________________________________________ |d.1) Expenses (acc. 6812) | 27| 95622| 12639| ________________________________________________________________________________________ |d.2) Incomes (acc. 7812) | 28| 0| 39781| ________________________________________________________________________________________ |EXPLOITATION EXPENSES - TOTAL | 29| 13091513| 10720204| |(row 09+13+16+19+22+26) | | | | ________________________________________________________________________________________ |RESULT FROM EXPLOITATION | | | | |- Profit (row 08-29) | 30| 4422099| 0| ________________________________________________________________________________________ |- Loss (row 29-08) | 31| 0| 2268804| ________________________________________________________________________________________ |FINANCIAL INCOMES | 32| 0| 0| |9. Incomes from participation interests | | | | | (acc. 7613) | | | | ________________________________________________________________________________________ Page 10 Form: 20 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | FINANCIAL|EXERCISE | | ITEM DENOMINATION | |_______________|_______________| | | | PREVIOUS | CONCLUDED | ________________________________________________________________________________________ |- out of which, within the group | 33| 0| 0| ________________________________________________________________________________________ |10. Incomes form other financial investments and | 34| 250170| 512811| |claims making part of permanent assets | | | | |(acc. 7611+7612) | | | | ________________________________________________________________________________________ |- out of which, within the group | 35| 0| 0| ________________________________________________________________________________________ |11. Incomes from interests(acc. 766) | 36| 2738342| 6750429| ________________________________________________________________________________________ |- out of which, within the group | 37| 907432| 778514| ________________________________________________________________________________________ |12. Other financial incomes | 38| 637556| 779638| |(acc. 7616+7617+762+763+764+765+767+768) | | | | ________________________________________________________________________________________ |FINANCIAL INCOMES - TOTAL | 39| 3626068| 8042878| |(row 32+34+36+38) | | | | ________________________________________________________________________________________ |12. Adjustment of financial immobilizations value | 40| 113248| 0| |and of financial investments owed at circulating | | | | | assets (row 41-42) | | | | ________________________________________________________________________________________ |Expenses(acc. 686) | 41| 113248| 0| ________________________________________________________________________________________ |Incomes(acc. 786) | 42| 0| 0| ________________________________________________________________________________________ |13.a) Expenses regarding the interests | 43| 1021825| 4355555| | (acc. 666-7418) | | 1021825| 4355555| ________________________________________________________________________________________ |- out of which, within the group | 44| 1021825| 4355555| ________________________________________________________________________________________ |b) Other financial expenses | 45| 156304| 4031123| |(acc. 663+664+665+667+668) | | | | ________________________________________________________________________________________ |FINANCIAL EXPENSES - TOTAL (row 40+43+45) | 46| 1291377| 8386678| ________________________________________________________________________________________ |FINANCIAL RESULT: | 47| 2334691| 0| |- Profit (row 39-46) | | | | ________________________________________________________________________________________ |- Loss (row 46-39) | 48| 0| 343800| ________________________________________________________________________________________ Page 11 Form: 20 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | FINANCIAL|EXERCISE | | ITEM DENOMINATION | |_______________|_______________| | | | PREVIOUS | CONCLUDED | ________________________________________________________________________________________ |14. CURRENT RESULT: | 49| 6756790| 0| |- Profit (row 08+39-29-46) | | | | ________________________________________________________________________________________ |- Loss (row 29+46-08-39) | 50| 0| 2612604 | ________________________________________________________________________________________ |15. Extraordinary incomes (acc. 771) | 51| 0| 0| ________________________________________________________________________________________ |16. Extraordinary expenses (acc. 671) | 52| 0| 0| ________________________________________________________________________________________ |17. EXTRAORDINARY RESULT: | 53| 0| 0| |- Profit (row 51-52) | | | | ________________________________________________________________________________________ |- Loss (row 52-51) | 54| 0| 0| ________________________________________________________________________________________ |TOTAL INCOMES (row 08+39+51) | 55| 21139680| 16494278| ________________________________________________________________________________________ |TOTAL EXPENSES (row 29+46+52) | 56| 14382890| 19106882| ________________________________________________________________________________________ |GROSS RESULT: | 57| 0| 0| |- Profit (row 55-56) | | | | ________________________________________________________________________________________ |- Loss (row 56-55) | 58| 0| 2612604| ________________________________________________________________________________________ |18. PROFIT TAX (acc. 691) | 59| 982142| 0| ________________________________________________________________________________________ |19. Other expenses with taxes, not specified | 60| 0| 0| |above (acc. 698) | | | | ________________________________________________________________________________________ |20. NET RESULT OF THE FINANCIAL EXERCISE: | 61| 5774648| 0| |- Profit (row 57-59-60) | | | | ________________________________________________________________________________________ |- Loss (row 58+59+60) or (row 59+60-57) | 62| 0| 2612604| ________________________________________________________________________________________ Page 12 Form: 20 - lei - ________________________________________________________________________________________ | |Nr. | | | | |row | FINANCIAL|EXERCISE | | ITEM DENOMINATION | |_______________|_______________| | | | PREVIOUS | CONCLUDED | ________________________________________________________________________________________ ADMINISTRATOR, DRAWN UP BY, Name and first name Name and first name NILAS RARES MILCHIS MIHAI Illegible signature ECONOMICAL MANAGER Official Stamp Illegible signature