DRAFT PRO FORMA BALANCE SHEET OF FILA HOLDING S.p.A.,
DATED AS OF JUNE 10, 2003
[LOGO]
Fila Holding S.p.A.
Registered Office
Viale Cesare Battisti 26
13900 Biella Italy Registered Capital Stock (euro)96,511,312.00
Tel. +39-01535061 Biella Commercial Registrar
Fax +39-0153506399 And Tax Code Number 00164310021
Draft pro-
forma
balance
Sheet
((euro)000) 31/5/2003 1 2 3 4 5 6 7
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Fixed assets (net) 20
Net Equity investments 3
Other non current assets 230
Equity inivestments intercompany 150.96 (150.967)
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Total fixed assets 151.22
Other receivables 134.304 (20.000) 103.658 (263) 323 (198.167)
Net cash 13 82.123 106.523 (106.523) (500) (653) 198.167
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Total current assets 134.317
- -------------------------------------------------------------------------------------------------------------------------
Total assets 285.537
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Pension funds 337
--------
Long Term liabilities 337
Accounts payable 2.218
Other current liabilitie 162.688 106.523 (2.865) (390) (653)
--------
Current liabilities 164.906
Shareholder funds 120.294 (20.000) (68.845) (373) 323
- -------------------------------------------------------------------------------------------------------------------------
Total equity and liabilities 285.537
- -------------------------------------------------------------------------------------------------------------------------
Draft pro-
forma
balance
Sheet
((euro)000) 8 9 10 10/6/2003
- ----------------------------------------------------------------------------
Fixed assets (net) 20
Net Equity investments 3
Other non current assets 230
Equity inivestments intercompany 0
-------
Total fixed assets 253
Other receivables 19.855
Net cash (263.514) 20.604 (2.875) 33.365
-------
Total current assets 53.220
- ----------------------------------------------------------------------------
Total assets 53.473
- ----------------------------------------------------------------------------
Pension funds 337
-------
Long Term liabilities 337
Accounts payable 2.218
Other current liabilitie (263.514) 1.790
-------
Current liabilities 4.008
Shareholder funds 20.604 (2.875) 49.128
- ----------------------------------------------------------------------------
Total equity and liabilities 53.473
- ----------------------------------------------------------------------------
NOTE:
Eash adjustment is described in the following page
1
Adjustments
1. Write off of a credit of Fila Holding towards Fila Nederland
2. Sale of shares of Fila Sport, Fila U.S.A, Fila Nederland and Ciesse with the
accounting of the Loss on equity investments
3. Loan from RCS to Fila Holding
4. Loan from Fila Holding to Fila Sport and Fila Nederland to allow the two
companies to repay their debts
5. Costs for UBS advisory and Interest income on financial credit towards Fila
Sport and Fila Nederland (accrued as of the 10th June 2003)
6. Bank Interest paid (accrued as of the 10th June 2003)
7. Cash in from the sale of Notes (Fila Sport and Fila Nederland)
8. Use of cash to repay debts towards banks and RCS
9. Income from the closing of the hedging position
10. Advisory costs for the Transactions
2