Financial Information

Quarterly Financial Statements (Summary)

Turbine Power Co. S.A.

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Date:	30 Jun 2002
In:	Pesos

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Account	Amount
ASSETS
CURRENT ASSETS
Cash and Banks	77,093
Accounts Receivable	4,448,730
Other Accounts Receivable	6,575,553
*Total Current Assets	11,101,376
NON CURRENT ASSETS
Trade Receivables	5,492,684
Other Accounts Receivable	4,327,323
Inventory	82,667,141
Other Non Current Assets	17,655,836
*Total Non Current Assets	110,142,984
**Total Assets	121,244,360
LIABILITIES
CURRENT LIABILITIES
Payables Trade	7,555,836
Payables Bank & Financial	107,739,378
Payables Payroll and Payables Social Security Taxes	69,077
Payables Taxes	2,333,134
Other Current Liabilities	1,500
*Total Current Liabilities	117,698,925
LONG TERM LIABILITIES
Payables Trade	1,172,673
Contingent Liabilities	9,800,626
*Total Long Term Liabilities	10,973,299
**Total Liabilities	128,672,224
**Subtotal	128,672,224
NET WORTH
CAPITAL
Paid-in Capital	24,500,000
Inflation Adjustment	25,726,552
Total Equity	50,226,552
CONTRIBUTIONS TO FUTURE INCREASES IN EQUITY
Irrevocable Contributions to Future Increases in Equity	7,724,000
Adjustments to Contributions to Future Increases in Equity	20,854,800
*Total Contributions to Future Increases in Equity	28,578,800
RESERVES FUNDED BY RETAINED EARNINGS
RETAINED ERANINGS - UNAPPROPRIATED
Retained Eranings - Unappropriated	-86,233,216
*Total Retained Eranings - Unappropriated	-86,233,216
TECHNICAL REVALUATIONS
**Total Net Worth	-7,427,864
STATEMENT OF INCOME
Net Sales	16,553,630
Cost of Goods Sold	-11,998,604
Gross Income (Loss)	4,555,026
OPERATING EXPENSES
Administrative Expenses	-842,464
Other Income (Loss)	-2,896
FINANCIAL RESULTS
From Assets	-22,046,845
From Liabilities	-50,231,044
Ordinary Income (Loss)	-68,568,223
Accounting Period Income (Loss)	-68,568,223
SOURCES & USES OF FUNDS
CHANGE IN CASH & SHORT-TERM RECEIVABLES
Inicial Cash & Short-Term Receivables	23,817
Increase/Decrease in Cash & Short-Term Receivables	53,276
Ending Cash & Short-Term Receivables	77,093