Consolidated Balance Sheets

		December 31,
		1998	1997
		(In thousands)
	Assets
	Current assets:
	Cash and cash equivalents (Note 3)	US$ 14,479	US$ 14,333
	Short-term investments	2,167	24,169
	Trade accounts receivable, net of allowance for doubtful accounts of US$13,010 in 1998 and US$5,803 in 1997 (Note 10)	34,354	41,487
	Inventory	8,864	8,723
	Other current assets (Note 4)	12,513	25,713
	Total current assets	72,377	114,425
	Property and equipment, net (Notes 5 and 7)	416,036	347,653
	Due from related parties (Note 11)	1,648	2,572
	Other assets	46,006	18,448
	Total assets	US$ 536,067	US$ 483,098
	Liabilities and shareholders’ equity
	Current liabilities:
	Accounts payable	US$ 36,573	US$ 12,287
	Accrued liabilities	7,537	5,852
	Customer deposits	46,214	51,738
	Bank loan (Note 6)	10,754	11,001
	Equipment financing, current portion (Note 7)	17,501	10,389
	Deferred income taxes (Note 9)	57	5,530
	Total current liabilities	118,636	96,797
	Deferred income taxes (Note 9)	41,151	35,201
	Equipment financing, less current portion (Note 7)	164,075	136,962
	Minority interest	9,269	6,487
	Commitments and contingencies (Note 12)	–	–
	Shareholders’ equity (Note 8):
	Convertible voting preferred stock (.005 rubles nominal value per share), 10,000,000 shares authorized; 6,426,600 shares issued and outstanding	–	–
	Common stock (.005 rubles nominal value per share), 90,000,000 shares authorized; 19,280,000 shares issued and outstanding	86	86
	Additional paid-in capital	64,340	64,340
	Retained earnings	138,510	143,225
	Total shareholders’ equity	202,936	207,651
	Total liabilities and shareholders’ equity	US$ 536,067	US$ 483,098

See accompanying notes.