Report of the auditors
We have audited the accompanying consolidated balance sheet of
Slovenské telekomunikácie, a.s. ("the Company") and its subsidiaries
and joint venture ("the Group") at 31 December 2002, and the related
consolidated statements of income, cash flows and changes in shareholder's
equity for the year then ended. These financial statements set out
on pages 48 to 73 are the responsibility of the Company's management.
Our responsibility is to express an opinion on these financial statements
based on our audit.
We conducted our audit in accordance with International Standards
on Auditing. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, the consolidated financial statements referred
to above present fairly, in all material respects, the consolidated
financial position of the Group at 31 December 2002, and the consolidated
results of its operations and cash flows for the year then ended
in accordance with International Accounting Standards.

PricewaterhouseCoopers
Bratislava, Slovak Republic
18 February 2003
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