consolidated  statement  of  equity


(All amounts in HUF 000.000´s)
  Notes
Share
Capital
Capital
Reserve
Treasury
Shares
Retained
Earnings
Total
  January 1, 1998   8,000   7,329   -   7,550   22,879  
  Transfer: capital contribution 15   681     (681)   -  
  Net income         3,465   3,465  
  Increase in treasury shares       (819)     (819)  
  December 31, 1998   8,000   8,010   (819)   10,334   25,525  
  Issue of employee shares 14 1,076   (968)       108  
  Stock exchange costs of employee shares issue     (12)       (12)  
  Net income         3,402   3,402  
  Gain on treasury shares transactions 14   250       250  
  Increase in treasury shares       (884)     (884)  
  December 31, 1999   9,076   7,280   (1,703)   13,736   28,389  

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Danubius Hotels Rt.

1051 Budapest, Szent István tér 9-11.
Phone: (+36 1 ) 374-72-00; Telefax: (+36 1) 269-30-95 e-mail: info@danubiushotels.hu