2004 Q3 Summary Financials

(1)

BALANCE SHEETS

As of September 30, 2004 and 2003, and April 30, 2003 (In millions of Rupiah)

Bank Consolidated

April 30, 2003 April 30, 2003

(Audited) (Audited)

(after quasi reorganization)

(after quasi reorganization) ASSETS

1 C a s h 2,076,054 2,033,278 1,816,952 2,137,010 2,071,470 1,846,539

2 Placements with Bank Indonesia -

a. Current Accounts with Bank Indonesia 13,300,252 9,849,042 9,573,319 13,625,095 9,943,820 9,643,221

b. Certificates of Bank Indonesia 3,976,682 7,631,736 11,177,812 3,976,682 8,145,236 11,490,312

c. Others 9,841,817 2,100,000 - 9,841,817 2,100,000

-3 Current Accounts with Other Banks

a. Rupiah 3,845 3,096 2,078 13,612 5,685 17,402

b. Foreign currencies 1,291,988 701,200 343,091 1,406,972 743,353 398,843

4 Placements with Other Banks

a. Rupiah 1,523,838 270,168 270,168 1,646,938 574,123 455,653

b. Foreign currencies 2,890,324 7,616,238 6,671,008 2,810,066 7,551,553 6,634,224

Allowance for possible losses on placements with other banks (-/-) (73,969) (86,024) (72,864) (74,026) (87,169) (73,933) 5 Securities

a. Rupiah

i. Trading 89,303 9,250 - 295,304 51,791 4,237

ii. Available for sale 1,198,737 747,036 189,378 1,568,731 1,080,616 219,378

iii. Held to maturity 1,327,005 1,270,103 1,332,397 1,337,293 1,298,838 1,365,252

b. Foreign currencies

i. Trading 85,127 15,782 151,006 133,644 15,782 151,006

ii. Available for sale 354,834 341,612 458,714 354,834 392,318 458,714

iii. Held to maturity 3,863,591 2,837,593 2,518,488 4,259,174 3,244,174 2,893,051

Allowance for possible losses on securities (-/-) (1,939,540) (1,949,858) (1,873,989) (1,943,440) (1,951,275) (1,875,326)

6 Government Recapitalization Bonds

a. Trading 1,405,226 2,435,942 9,312,896 1,585,606 2,435,942 9,312,896

b. Available for Sale 26,868,053 27,179,415 35,625,964 26,868,053 27,179,415 35,625,964

c. Held to maturity 65,500,725 101,774,561 105,393,520 65,500,725 101,774,561 105,393,520

7 Securities Purchased with Agreements to Resell (reverse repo)

a. Rupiah - - - 231,765 -

b. Foreign currencies - - -

Allowance for possible losses on securities purchased with agreements to resell (reverse repo) (-/-) - - -

-8 Derivative Receivables 595,406 1,072,886 419,841 597,970 1,072,886 421,959

Allowance for possible losses on derivative receivables (-/-) (6,343) (10,729) (4,198) (6,343) (10,729) (4,198)

9 Loans

a. Rupiah

i Related parties 373,073 536,401 496,916 375,137 536,401 496,990

ii Third parties 50,597,528 42,864,815 39,961,150 55,152,536 44,385,529 41,245,530

ii Third parties 29,967,876 26,675,331 26,742,088 30,997,828 27,137,524 27,139,752

Allowance for possible losses on loans (-/-) (8,136,186) (9,576,753) (10,025,120) (8,255,335) (9,628,597) (10,083,026)

10 Acceptances Receivable 5,550,097 2,778,409 2,783,898 5,555,482 2,778,409 2,791,637

Allowance for possible losses on acceptances receivable (-/-) (162,420) (90,319) (103,404) (162,420) (90,319) (103,404)

11 Investments in Shares of Stock 1,882,069 1,770,678 1,788,293 102,022 96,360 149,904

Allowance for possible losses on investments in shares of stock (-/-) (96,232) (92,825) (27,633) (96,232) (92,825) (27,633)

12 Accrued Income 1,213,867 2,231,504 3,219,538 1,222,321 2,236,479 3,232,512

13 Prepaid Expenses 430,373 337,566 268,494 497,717 361,604 289,068

14 Prepaid Taxes 43 1,487,693 363,434 23,837 1,501,910 366,724

15 Deferred Tax Assets 2,423,487 3,229,153 2,922,870 2,424,920 3,230,116 2,923,968

16 Premises and Equipment 7,114,114 6,729,503 3,410,314 7,455,611 7,022,975 3,685,787

Accumulated depreciation on premises and equiptment (-/-) (1,980,829) (1,614,604) (1,488,487) (2,169,593) (1,778,302) (1,642,699)

17 Leased Assets 37,550 37,550 - 37,550 37,550

Accumulated depreciation on leased assets (-/-) (15,646) (7,510) - (15,646) (7,510)

-18 Repossessed Collateral 118,173 119,465 72,362 152,708 128,043 77,479

19 Other Assets 4,837,337 4,851,873 5,679,048 5,567,451 5,051,994 5,842,965

TOTAL ASSETS 228,727,465 248,515,217 259,787,690 235,542,281 251,049,395 261,285,909

September 30, 2003 (Unaudited)

No. Description September 30, 2004

(Unaudited)

(2)

BALANCE SHEETS

As of September 30, 2004 and 2003, and April 30, 2003 (In millions of Rupiah)

Bank Consolidated

April 30, 2003 April 30, 2003

(Audited) (Audited)

(after quasi reorganization)

(after quasi reorganization) LIABILITIES AND SHAREHOLDERS' EQUITY

1 Demand Deposits

a. Rupiah 30,888,824 30,107,085 24,650,827 31,494,184 30,266,880 24,760,342

2 Immediately Payable Liabilities 840,654 1,023,073 619,723 900,398 1,288,915 659,125

3 Savings Deposits 44,637,844 33,476,435 29,681,284 46,068,975 34,026,306 30,130,336

4 Time Deposits

a. Rupiah

i Related parties 293,131 1,486,188 2,342,995 114,329 1,250,714 1,785,746

ii Third parties 63,143,536 84,425,547 102,114,291 65,517,728 85,551,065 102,851,708

ii Third parties 12,369,479 17,817,454 18,708,347 12,995,584 18,076,899 18,960,959

5 Certificates of Deposit

a. Rupiah 25 35 119 25 35 119

-6 Deposit from Other Banks 7,145,740 9,023,105 13,741,764 7,371,483 9,175,409 13,790,831

7 Securities Sold with Agreements to Repurchase (repo) 2,342,500 5,077,500 735,000 2,342,500 5,077,500 735,000

8 Derivative Payables 22,852 8,635 10,621 23,297 8,642 13,128

9 Acceptance Payables 5,550,097 2,778,409 2,783,898 5,555,482 2,778,409 2,791,637

10 Securities Issued

a. Rupiah 754,479 379,487 263,809 954,479 379,487 263,808

11 Fund Borrowings

a. Funding Facilities from Bank Indonesia - - - b. Others

i. Rupiah

- Related parties - - -

- Third parties 1,680,070 3,055,656 3,321,331 1,870,070 3,055,656 3,321,331

ii. Foreign currencies

- Related parties - - -

- Third parties 2,924,550 5,412,257 9,336,948 2,924,550 5,412,257 9,336,948

12 Estimated Losses on Commitments and Contingencies 611,399 1,513,636 1,488,299 640,978 1,513,733 1,488,315

13 Obligations under Capital Leases 3,136 22,751 - 3,398 23,317 397

14 Accrued Expenses 649,136 713,176 953,623 695,870 736,619 974,474

15 Taxes Payable 694,296 1,947,399 865,398 741,649 1,957,345 875,792

16 Deferred Tax Liabilities - - -

-17 Other Liabilities 5,903,981 6,024,108 9,635,689 6,669,032 6,268,613 9,905,649

18 Subordinated Loans

a. Related parties - - -

b. Third parties 5,140,819 5,368,769 5,869,077 5,172,819 5,400,769 5,901,077

19 Loan Capital

a. Related parties - - -

b. Third parties 2,988,900 2,887,650 2,926,193 2,988,900 2,887,650 2,926,193

20 Minority Interests in Net Assets of Consolidated Subsidiaries - - - 3,571 3,513 3,238

21 Shareholders' Equity

a. Share Capital 10,047,065 10,000,000 4,251,000 10,047,065 10,000,000 4,251,000

b. Additional Paid-in Capital /agio 5,955,806 5,926,418 10,675,418 5,955,806 5,926,418 10,675,418

c. Share Options 14,881 - - 14,881 -

d. Differences Arising from Translation of Foreign Currency Financial Statements (1,065) 21,953 16,267 58,839 38,371 48,498

e. Premises and Equipment Revaluation Increment 3,046,936 3,046,936 - 3,056,724 3,056,724 9,788

f. Unrealized Gain (Losses) on Securities and Government Recapitalization Bonds Available for Sale (667,172) 456,202 1,299,210 (664,244) 458,539 1,299,676

g. Retained Earnings 5,386,240 2,409,035 1,000,000 5,386,240 2,409,035 1,000,000

TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 228,727,465 248,515,217 259,787,690 235,542,281 251,049,395 261,285,909

No. Description September 30, 2004

(Unaudited)

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STATEMENTS OF PROFIT AND LOSS

For the periods from January 1 to September 30, 2004 and 2003, May 1, to September 30, 2003 and January 1, to April 30, 2003

(In millions of Rupiah)

(Unaudited) (Unaudited) (Unaudited) (Audited) (Unaudited) (Unaudited) (Unaudited) (Audited)

(for comparative

purposes)

(for comparative

purposes)

INCOME AND EXPENSES FROM OPERATIONS 1 Interest Income

1.1. Interest Income

a. Rupiah 11,826,498 17,761,618 9,286,805 8,474,813 12,259,201 17,966,099 9,436,075 8,530,024 b. Foreign currencies 1,650,781 1,716,698 921,449 795,249 1,714,031 1,756,106 944,336 811,770 1.2. Fees and Commissions on Loan Facilities

a. Rupiah 303,769 282,586 144,156 138,430 323,224 303,868 154,377 149,491 b. Foreign currencies 64,724 51,826 31,784 20,042 64,903 51,826 23,839 27,987

TOTAL INTEREST INCOME 13,845,772 19,812,728 10,384,194 9,428,534 14,361,359 20,077,899 10,558,627 9,519,272 2 Interest Expense

2.1. Interest Expense

a. Rupiah 6,310,464 13,111,795 6,498,378 6,613,417 6,511,746 13,194,208 6,556,782 6,637,426 b. Foreign currencies 699,914 1,036,831 568,303 468,528 723,827 1,049,593 576,097 473,496 2.2. Other Financing Expenses - - - - -

-TOTAL INTEREST EXPENSE (-/-) 7,010,378 14,148,626 7,066,681 7,081,945 7,235,573 14,243,801 7,132,879 7,110,922 NET INTEREST INCOME 6,835,394 5,664,102 3,317,513 2,346,589 7,125,786 5,834,098 3,425,748 2,408,350 3 Other Operating Income

3.1. Other Fees and Commissions 895,081 584,787 391,887 192,900 983,980 641,421 444,651 196,770 3.2. Foreign Exchange Gain *) 325,811 200,165 120,284 79,881 329,479 198,213 117,669 80,544 3.3. a. Gain from sale of Securities and Government Recapitalization Bonds **) 1,487,492 1,676,636 1,352,214 324,422 1,520,947 1,687,696 1,363,274 324,422 b. Gain from Increase in Value of Securities and Government Recapitalization Bonds **) 68,200 230,600 - 717,298 75,748 232,597 - 717,298 3.4. Others 483,007 322,087 167,981 154,106 507,125 308,999 138,577 170,422

TOTAL OTHER OPERATING INCOME 3,259,591 3,014,275 2,032,366 1,468,607 3,417,279 3,068,926 2,064,171 1,489,456 4 Provision for Possible Losses on Earning Assets 76,694 1,084,679 550,328 534,351 139,212 1,096,853 562,502 534,351

5 Addition of Estimated Losses on Commitments and Contingencies 2,493 297,335 92,018 205,317 31,486 297,335 92,018 205,317

6 Provision for Possible Losses on Other Assets - (528,657) (529,755) 1,098 - (528,657) (529,755) 1,098

7 Other Operating Expenses

7.1. General and Administrative Expenses 1,761,683 1,338,580 839,247 499,333 1,954,518 1,465,632 922,711 542,921 7.2. Salaries and Employee Benefits 1,536,280 1,234,468 659,151 575,317 1,678,907 1,322,514 709,677 612,837 7.3. a. Losses from sale of Securities and Government Recapitalization Bonds **) - - - - - b. Losses from Decrease in Value of Securities and Government Recapitalization Bonds **) - - 486,698 - - - 484,701 -7.4. Foreign Exchange Loss *) - - - - - 7.5. Others 458,406 453,158 275,022 178,136 461,934 456,631 270,296 186,335

TOTAL OTHER OPERATING EXPENSES - / - 3,756,369 3,026,206 2,260,118 1,252,786 4,095,359 3,244,777 2,387,385 1,342,093 PROFIT FROM OPERATIONS 6,259,429 4,798,814 2,977,170 1,821,644 6,277,008 4,792,716 2,977,769 1,814,947 NON OPERATING INCOME AND EXPENSES

8 Non Operating Income 90,453 424,254 226,577 197,677 119,544 499,329 285,781 213,548 9 Non Operating Expenses 84,498 143,892 18,994 124,898 86,929 206,452 74,874 131,578

NON OPERATING INCOME - NET 5,955 280,362 207,583 72,779 32,615 292,877 210,907 81,970

10 Extraordinary Income/(Expenses) - - - - -

-11 PROFIT BEFORE CORPORATE INCOME TAX EXPENSE AND MINORITY INTERESTS 6,265,384 5,079,176 3,184,753 1,894,423 6,309,623 5,085,593 3,188,676 1,896,917 12 Corporate Income Tax Expense /

-- Current 1,871,604 1,947,399 1,082,001 865,398 1,915,745 1,954,453 1,085,513 868,940 - Deferred (86,816) (634,773) (306,283) (328,490) (86,816) (635,427) (306,147) (329,280)

13 PROFIT BEFORE MINORITY INTERESTS 4,480,596 3,766,550 2,409,035 1,357,515 4,480,694 3,766,567 2,409,310 1,357,257

14 Minority Interests in Net Profit of Consolidated Subsidiaries - - - - (98) (17) (275) 258 15 Retained earnings (accumulated losses) at beginning of period 3,228,574 (161,302,575) 1,000,000 (161,302,575) 3,228,574 (161,302,575) 1,000,000 (161,302,575) 16 Conversion of Appropriated Retained Earnings to Share Capital - (1,000,000) (1,000,000) - - (1,000,000) (1,000,000) -17 Dividend (2,300,000) (1,792,794) - (1,792,794) (2,300,000) (1,792,794) - (1,792,794)

Others (22,930) (137,047) - (137,047) (22,930) (137,047) - (137,047)

18 RETAINED EARNINGS (ACCUMULATED LOSSES) AT END OF PERIOD 5,386,240 (160,465,866) 2,409,035 (161,874,901) 5,386,240 (160,465,866) 2,409,035 (161,874,901) 19 Accumulated Losses off-set against additional paid-in capital/agio - 162,874,901 - 162,874,901 - 162,874,901 - 162,874,901

20 RETAINED EARNINGS 5,386,240 2,409,035 2,409,035 1,000,000 5,386,240 2,409,035 2,409,035 1,000,000 21 EARNINGS PER SHARE (In Rupiah Full Amount)

- Basic - - - - 223.76 188.33 120.45 67.88 - Diluted - - - - 221.93 186.78 119.46 67.31 *) Presented as net of gain (losses) from foreign exchange transactions.

**) Presented as a net of gain (losses) from increase (decrease) in value of securities and Government Recapitalization Bonds

May 1, to September 30,

2003 January 1, to

September 30, 2003

January 1, to September 30,

2004 January 1, to

September 30, 2004

January 1, to September 30,

2003 January 1, to April

30, 2003

January 1, to April 30, 2003 Description

Bank Consolidated

May 1, to September 30,

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STATEMENTS OF COMMITMENTS AND CONTINGENCIES As of September 30, 2004 and 2003

COMMITMENTS Commitment Receivables

1 Unused fund borrowing facilities

a. Rupiah - - 4,638 - - 4,638

-2 Others - - 28,688 - - 28,688

Total Commitment Receivables - - 33,326 - - 33,326

Commitment Payables

1 Unused loan facilities

a. Rupiah 16,275,299 13,155,929 7,980,659 16,289,910 13,206,963 7,992,112

2 Outstanding irrevocable letters of credit 5,455,696 5,236,547 5,066,392 5,725,441 5,424,653 5,242,668

3 Others - - 108,302 - - 108,302

Total Commitment Payables 24,837,095 22,442,069 15,409,739 25,123,279 22,683,558 15,598,162 COMMITMENT PAYABLES - NET (24,837,095) (22,442,069) (15,376,413) (25,123,279) (22,683,558) (15,564,836)

CONTINGENCIES Contingent Receivables

1 Guarantees received

a. Rupiah 133,648 162,088 102,186 133,648 162,088 102,186

2 Interest receivables on non performing assets

a. Rupiah 1,418,619 1,526,685 1,626,992 1,418,619 1,526,685 1,626,992

b. Foreign currencies 925,287 2,197,727 1,123,997 925,287 2,197,727 1,123,997

3 Others 32,931 48,327 29,910 32,931 48,327 29,910

Total Contingent Receivables 4,436,735 5,024,654 3,925,514 4,470,096 5,024,654 3,997,954

Contingent Payables

1 Guarantees issued

a. Bank guarantees

- Rupiah 2,904,501 2,614,663 2,071,949 2,954,582 2,618,736 2,072,590

- Foreign currencies 6,778,826 5,359,564 4,971,990 6,832,037 5,372,716 4,982,424

b. Others - - 429 - - 963

2 Outstanding revocable letters of credit - - 1,580 - - 1,580

3 Others 71,441 2,423 160,787 73,121 4,442 163,219

Total Contingent Payables 9,754,768 7,976,650 7,206,735 9,859,740 7,995,894 7,220,776 CONTINGENT PAYABLES - NET (5,318,033) (2,951,996) (3,281,221) (5,389,644) (2,971,240) (3,222,822)

No Description

Consolidated Bank

September 30,

2004 (Unaudited) April 30, 2003 April 30, 2003

September 30, 2003 (Unaudited)

September 30, 2003 (Unaudited) September 30,

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BOARDS OF COMMISSIONERS AND DIRECTORS AS OF SEPTEMBER 30, 2004 Jakarta, November , 2004

Board of Commissioners

- Chairman : Binhadi S. E & O

- Deputy Chairman Board of Directors

& Independent Commissioner : Markus Parmadi

- Commissioner : Darmin Nasution PT Bank Mandiri (Persero) Tbk.

- Commissioner : Arie Soelendro

- Commissioner : Fransiska Oei

- Independent Commissioner : A. Tony Prasetiantono - Independent Commissioner : Riswinandi

Board of Directors

- President Director : E.C.W. Neloe

- Deputy President Director : I Wayan Pugeg

- Director : I Wayan Agus Mertayasa E.C.W. Neloe I Wayan Pugeg

- Director : M. Sholeh Tasripan President Director Deputy President Director

- Director : Omar Sjawaldy Anwar

- Director : Ventje Rahardjo

- Director : Nimrod Sitorus *)

- Director : J.B. Kendarto

- Director : Zulkifli Zaini

*) Acting as Compliance Director and Corporate Secretary

Notes :

1. The above financial information have been prepared for the purpose of complying with Bank Indonesia’s Regulation No. 3/22/PBI dated December 13, 2001 regarding Transparency of Banks’ Financial Condition, Bank Indonesia’s Circular Letter No. 3/30/DPNP dated December 14, 2001 regarding Presentation of Quarterly and Monthly Published Financial Statements

of Commercial Banks and Certain Report Submitted to Bank Indonesia, Bank Indonesia Regulation No. 4/7/PBI/2002 dated September 27, 2002 regarding Prudential Principles for Purchase of Credit by Commercial Bank from the Indonesian Bank Restructuring Agency (IBRA), Bank Indonesia's Letter No. 5/559/DPNP/IDPnP dated December 24, 2003 regarding Bank's Published Financial Statements

and Rule No. X.K.2 Decision of the Chairman of Bapepam Attachment No. Kep-36/PM/2003 dated September 30, 2003 regarding Obligation to Submit Periodic Financial Statements.

2. The above financial information as of September 30, 2004 and for the nine-month period then ended and as of September 30, 2003 and for the five-month period then ended are derived from consolidated financial statements that have been reviewed by Prasetio, Sarwoko & Sandjaja, public accounting firm, a member of Ernst & Young Global (Partner In-Charge : Drs. Sandjaja) in their report dated November 4, 2004, stated that they did not find any indication of material modification needed for the financial statements in order to conform with generally accepted accounting principles in Indonesia. The above financial information as of April 30, 2003 and for the four-month period then ended (after quasi reorganization) is derived from the consolidated financial statements that have been audited by Prasetio, Sarwoko & Sandjaja,

public accounting firm, a member of Ernst & Young Global (Partner In-charge : Drs.Sandjaja) in their report dated March 4, 2004 with an "unqualified opinion".

3. Quasi reorganization was effective as of April 30, 2003 based on the Resolution of the Extraordinary General Meeting of Shareholders of PT Bank Mandiri (Persero) Tbk. dated October 30, 2003. The accumulated deficit of Rp162,874,901 million was eliminated against additional paid-in capital/agio at quasi reorganization as of April 30, 2003.

4. For comparative purposes, certain accounts in the financial information as of April 30, 2003 (after quasi reorganization) and for the four month period then ended and as of September 30, 2003

and for the five month period then ended, have been reclassified to conform with the presentation of accounts in the financial information as of September30, 2004 and for the nine-month period then ended.

5. Exchange rate of 1 US Dollar as of September 30, 2004 and 2003, and April 30, 2003 was Rp 9,140, Rp 8,390 and Rp 8,675.50, respectively.

6. Basic and diluted earnings per share are calculated by dividing the net profit with the weighted average number of shares issued and fully paid during the period, after considering the effects of conversion of additional paid-in capital and retained earnings to issued and fully paid-up capital, stock split and stock options.

Public : 30,33%

SHAREHOLDERS

(6)

SPECIAL SUB SPECIAL SUB

MENTION STANDARD MENTION STANDARD

A Related Parties

1

Placement with other banks 391,299 - - - - 391,299 387,518 - - - - 387,518 2

Securities Held (issued by related parties) *) 94,188,791 - - - - 94,188,791 131,734,801 - - - - 131,734,801 3

Loan to related parties 624,319 197 148,793 - - 773,309 465,597 374,564 - - 101,200 941,361

a. Small scale business credit (KUK) - - - - - - - - - -b. Property Loans 25,026 98 - - - 25,124 23,292 4,907 - - - 28,199

i. Restructured 17,350 - - - - 17,350 18,850 - - - - 18,850 ii. Unrestructured 7,676 98 - - - 7,774 4,442 4,907 - - - 9,349 c. Other restructured loans 181,524 - 148,793 - - 330,317 181,849 368,862 - - 101,200 651,911 d. Others 417,769 99 - - - 417,868 260,456 795 - - - 261,251 4

Investment in shares of stock of related parties 1,789,705 - - - 5,159 1,794,864 1,674,399 - - - 7,114 1,681,513

a. In bank financial institutions 938,797 - - - - 938,797 905,431 - - - - 905,431 b. In non bank financial institutions 719,129 - - - 5,159 724,288 639,488 - - - 7,114 646,602 c. Due to loan restructuring - - - - - - - -d. Others 131,779 - - - - 131,779 129,480 - - - - 129,480 5

Other receivables from related parties - - - - - - - -6

Commitments and contingencies to related parties - - - - - - -

-B Third Parties

1

Placement with other banks 15,146,842 - - - 13,671 15,160,513 10,303,184 - - - - 10,303,184 2

Securities Held (issued by Bank Indonesia and 3rd parties) 8,670,185 - - - 1,810,307 10,480,492 10,720,770 - - - 1,787,459 12,508,229 3

Loan to third parties 64,768,143 9,852,163 1,891,824 536,109 3,517,165 80,565,404 49,593,956 14,804,468 1,886,667 1,190,510 2,064,545 69,540,146

a. Small scale business credit (KUK) 2,764,666 525,494 119,904 31,889 149,782 3,591,735 1,682,698 951,558 108,316 28,158 260,251 3,030,981

b. Property Loans 2,335,146 819,230 68,125 3,733 89,183 3,315,417 1,400,708 1,145,893 102,979 16,700 269,986 2,936,266

i. Restructured 349,452 631,915 55,252 95 5,245 1,041,959 218,517 1,023,563 56,209 30 236,589 1,534,908 ii. Unrestructured 1,985,694 187,315 12,873 3,638 83,938 2,273,458 1,182,191 122,330 46,770 16,670 33,397 1,401,358 c. Other restructured loans 13,066,754 4,894,681 1,142,128 115,128 464,214 19,682,905 13,366,773 7,031,351 935,438 535,023 929,816 22,798,401 d. Others 46,601,577 3,612,758 561,667 385,359 2,813,986 53,975,347 33,143,777 5,675,666 739,934 610,629 604,492 40,774,498 4

Investment in shares of stock of third parties 3,000 - - - 84,205 87,205 3,489 - - - 85,676 89,165

a. In bank financial institutions - - - - - - - -b. In non bank financial institutions - - - - - - - -c. Due to loan restructuring - - - - 82,250 82,250 - - - - 82,450 82,450 d. Others 3,000 - - - 1,955 4,955 3,489 - - - 3,226 6,715 5

Other receivables from third parties 5,754,983 391,683 999 - - 6,147,665 3,716,162 188,270 16,744 - - 3,921,176 6

Commitments and contingencies to third parties 14,663,104 424,425 2,432 20 49,042 15,139,023 11,825,369 1,279,895 75,510 - 30,000 13,210,774

206,000,371

10,668,468 2,044,048 536,129 5,479,549 224,728,565 220,425,245 16,647,197 1,978,921 1,190,510 4,075,994 244,317,867

7 Required allowance for losses on earning assets **) 1,379,635 1,001,475 339,162 265,695 5,144,880 8,130,847 1,784,923 1,295,950 291,346 570,001 3,764,182 7,706,402 8 Established allowance for losses on earning assets 2,331,902 2,050,532 981,300 517,475 5,144,880 11,026,089 4,633,276 2,897,271 905,534 1,119,881 3,764,182 13,320,144 9 Value of bank's assets pledge as collateral :

a. To Bank Indonesia -

-b. To other banks -

-10 Percentage of small scale business credit to total loans 4.42% 4.30%

11 Percentage of small scale business credit debtors to total debtors 32.05% 35.65%

*)Include Government Bond (recapitalization program)

**)The calculation of allowance for possible losses on earning assets should be provided on the principal after deducted by collaterals, no allowance for possible losses in required for Certificates of Bank Indonesia, placement with Bank Indonesia Bank Indonesia intervention and Government Recapitalization Bonds.

TOTAL

CURRENT DOUBTFUL LOSS CURRENT DOUBTFUL LOSS Total

SEPTEMBER 30, 2004 (Unaudited) SEPTEMBER 30, 2003 (Unaudited)

(in millions of Rupiah)

EARNING ASSETS QUALITY AND OTHER INFORMATION As of September 30, 2004 and 2003

No Account

Bank

(7)

Contract Value with

Hedging

Others

Receivable

Payable

Netting Agreement

A.

Exchange Rate Related

1

Spot

-

320,357

-

-2

Forward

-

1,639,971

517,719

3,969

-3

Option

a. Purchased

-

31,473

326

5

-b. Written

-

31,652

29

147

-4

Future

-

-5

Swap

-

1,554,588

38,019

18,731

-6

Others

-

-B

Interest Rate Related

1

Forward

-

-2

Option

a. Purchased

-

-b. Written

-

-3

Future

-

-4

Swap

-

-5

Others

8,702

30,611

39,313

-

-C

Others

-

-TOTAL

595,406

22,852

FOREIGN EXCHANGE TRANSACTIONS AND DERIVATIVES

As of September 30, 2004 (Unaudited)

Bank

Contract Market Value

Derivative Receivable and Payable

(8)

I.

Capital

1.

CAR

26.56%

27.89%

2.

Premises and Equipment to Capital *)

18.97%

20.61%

II. Earning Assets

1.

Non-Performing Earning Assets

3.59%

2.97%

2.

NPL :

- Gross NPL

7.49%

7.44%

- Net NPL

1.74%

2.00%

3.

Allowance for Possible Losses on Earning Assets

4.91%

5.45%

4.

Compliance for Allowance for Possible Losses on

Earning Assets

135.61%

172.85%

III. Rentability

1.

ROA

3.59%

2.66%

2.

ROE

30.06%

30.64%

3.

NIM

4.41%

3.29%

4.

Operating Expenses to Operating Income **)

63.41%

78.98%

IV. Liquidity

LDR

49.77%

39.31%

V. Compliance

1.

a. Percentage Violation of Legal Lending Limit

a.1. Related Parties

-

a.2. Third Parties

-

-b. Percentage of Lending in Excess of the Legal

Lending Limit

a.1. Related Parties

-

a.2. Third Parties

-

-2

Reserve Requirement (Rupiah)

8.09%

5.38%

3

Net Open Position

3.86%

1.70%

*) Premises and equipment are computed after deducted by accumulated depreciation.

**) Operating expenses include interest expenses, provision for possible losses on earning assets, provision for

possible losses on other assets divided by operational income include interest income.

FINANCIAL RATIOS

As of September 30, 2004 and 2003

Bank

KEY RATIOS (%)

NO

Sept. 30, 2004

(Unaudited)

(9)

I. COMPONENTS

A. Core Capital

19,704,292

16,999,747

1. Paid-Up Capital

10,047,065

10,000,000

2. Disclosed Reserves

a. Agio

5,955,806

5,926,418

b. Disagio (-/-)

-

-c. Share Options

14,881

-d. Donated Capital/Additional paid-in capital

-

-e. General and Appropriated Reserves

747,000

-f. Previous Years Profit After Tax

743,715

-g. Previous Years Losses (-/-)

-

-h. Current Year Profit After Tax (50%)

2,196,890

1,051,376

i. Current Year Losses (-/-)

-

-j. Differences Arising from Translation of Financial Statements

in Foreign Currencies

1) Positive Adjustment

-

21,953

2) Negative Adjustment (-/-)

(1,065)

-k. Funds for Paid-Up Capital

-

-l. Decline in Value of Equity Participation in Available for Sale Portfolio (-/-)

-

-m. Differences Arising from Restructuring of Transaction among Entities

under Common Control

-

3. Goodwill (-/-)

-

B. Supplemental Capital

9,268,444

9,657,747

(Max 100% of core capital)

1. Reserve for Premises and Equipment Revaluation

3,046,936

2. General Reserves of Allowance for Possible Losses on Earning Assets

(max 1.25% of risk weighted assets)

1,278,793

1,118,896

3. Loan Capital

1,878,390

1,924,898

4. Subordinated Loans (max 50% of core capital)

3,064,325

3,567,017

5. Increase in Value of Equity Participation in Available for Sale Portfolio (45%)

-

-II. TOTAL CORE CAPITAL AND SUPPLEMENTAL CAPITAL (A+B)

28,972,736

26,657,494

III. INVESTMENTS IN SHARES OF STOCK (-/-)

(1,799,819)

(1,688,228)

IV. TOTAL CAPITAL (II-III)

27,172,917

24,969,266

V. RISK WEIGHTED ASSETS

102,303,424

89,511,706

VI. ESTABLISHED CAPITAL ADEQUACY RATIO (IV : V)

26.56%

27.89%

VII. REQUIRED MINIMUM CAPITAL ADEQUACY RATIO

8%

CALCULATION OF CAPITAL ADEQUACY RATIO

As of September 30, 2004 and 2003

Bank

DESCRIPTION

NO

Sept. 30, 2004

(Unaudited)

(10)

a. Summary of loan purchased from IBRA

1

Loan principal / outstanding balance as of September 30, 2004

5,214,894

2

Amount of loans purchased from January 1, 2002 - September 30, 2004

5,579,541

3

Total provision for loan losses and deferred income as of September 30, 2004

329,062

4

Allowance for possible loan losses as of September 30, 2004

2,053,736

5

Interest income and other income related to loan purchased from IBRA

from January 1 - September 30, 2004

223,891

b. Summary of movement of loans purchased from IBRA

1

Beginning Balance

5,249,139

2

Foreign currency translation

380,562

3

Additional loan purchased during the period

-4

Repayment during the period

(298,976)

5

Loans written off during the period

(51,005)

6

Adjustment of deferred income

(64,826)

7

Ending Balance

5,214,894

c. Summary of movement of allowance for possible loan losses derived from the difference between

loan principal and purchase price

1

Beginning Balance

186,972

2

14,748

3

Additional allowance fot possible losses of loan purchased from IBRA during the period

-4

Allowance for possible losses for loans written off

-5

Reversal of provision for possible losses due to the repayment over purchase price

(8,915)

6

Ending Balance

192,805

d. Summary of movement of deferred income derived from the difference between loan principal

and purchase price

1

Beginning Balance

209,574

2

6,280

3

Additional deferred income of loans purchased from IBRA during the period

-4

Deferred income for loans written off

(14,586)

5

Adjustment of deferred income

(64,826)

6

Reversal of deferred income due to the repayment over purchase price

(185)

7

Ending Balance

136,257

e.

Loans covered by new credit agreements

3,353,693

f.

Additional facility extended to debtors under loans purchased from IBRA

134,542

NO

DESCRIPTION

Amount

DESCRIPTION

Amount

DESCRIPTION

Amount

NO

(Based on Bank Indonesia's Regulation No. 4/7/PBI/2002 dated September 27, 2002 Chapter VI section 24)

LOAN PURCHASED FROM IBRA

January 1, to September 30, 2004 (Unaudited)

NO

DESCRIPTION

Amount