CONSOLIDATED WATER CO. LTD. CONSOLIDATED BALANCE SHEETS (Expressed in United States dollars) December 31, 2000 1999 ASSETS Current assets Cash and cash equivalents (Note 7) 250,837 22,146 Accounts receivable (Note 4) 1,488,729 1,230,412 Spares inventory 120,014 94,303 Inventory of water 34,219 28,984 Prepaid expenses and other assets 299,499 298,906 Total current assets 2,193,298 1,674,751 Property, plant and equipment  (Notes 5 and 14) 17,643,891 14,756,570 Intangible asset  (Note 3) 2,008,483 - Total assets $ 21,845,672 $ 16,431,321 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Bank overdrafts (Note 7) 703,331 651,606 Dividends payable (Note 6) 401,965 266,585 Accounts payable and other liabilities 1,448,364 1,079,922 Obligations under Water Purchase Agreement (Note 14) - 320,141 Current portion of long term debt (Note 7) 219,580 310,135 Total current liabilities 2,773,240 2,628,389 Long term debt  (Note 7) 1,131,986 1,926,786 Security deposit  (Note 15) 52,763 52,763 Advances in aid of construction 41,090 45,084 Total liabilities 3,999,079 4,653,022 Stockholders' equity Common stock (Notes 8 and 16) 4,635,774 3,794,960 Additional paid-in capital (Note 8) 6,726,749 3,453,808 Treasury shares (Note 8) - ( 821,303) Vested redeemable preferred stock (Note 8) 11,983 1,121 Non-vested redeemable preferred stock (Notes 8 and 16) 28,378 48,149 Retained earnings 6,443,709 5,301,564 Total stockholders' equity 17,846,593 11,778,299 Total liabilities and stockholders' equity $ 21,845,672 $ 16,431,321 ) ) Directors ) Date: March 15, 2001 The accompanying notes are an integral part of these financial statements.