CONSOLIDATED  STATEMENT  OF  INCOME  (HAS)

  (HUF 000) 1998   1999   Index %  
  Net domestic sales revenue 24,149,026   25,213,018   104,4  
  Other income 602,469   310,362   51,5  
  Cap. value of own performance 6,467   739     
  Material-type expenditures 6,495,639   6,355,015   97,8  
  Total payroll and related costs 8,057,241   8,420,060   104,5  
  Depreciation 1,280,579   2,388,119   186,5  
  Miscellaneous expenses 2,678,297   3,220,736   120,3  
  Other expenditures 1,188,036   1,490,367   125,4  
  OPERATING PROFIT 5,058,170   3,649,822   72,2  
   Revenues from financial activities 626,655   834,733   133,2  
   Financial transaction expenditures 1,284,322   388,906     
  Financial profit or loss (657,667)   445,827     
   Extraordinary income 112,752   234,744   208,2  
   Extraordinary loss 397,736   131,098   33,0  
  Extraordinary profit or loss (284,984)   103,646     
  PROFIT BEFORE TAX 4,115,519   4,199,295   102,0  
   Taxes payable 714,562   770,286   107,8  
   PROFIT AFTER TAX 3,400,957   3,429,009   100,8  
  Dividend payable 653   336,100     
  Minority stake 1,139        
  NET PROFIT AS PER 3,399,165   3,092,909   91,0  
  BALANCE SHEET         

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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