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XL RECORDED A 12% GROWTH IN Q1 2005 REVENUE
Based on it s unaudit ed Q1 2005 financial account s, PT Excelcomindo Pratama (“ XL") report ed a
gross revenue of Rp. 844.3 billion in Q1 2005. This represent s a 12% increase over t he same
period last year of Rp. 754.5 billion. Alt hough t he subscriber base remained 3.3 million as of
t he end of Q1 2005, t he increase in gross revenue is most ly support ed by t he increase in gross
revenue from GSM t elecommunicat ion service.
Operat ing income decreased by 13% from Rp. 198.7 billion in Q1 2004 t o Rp. 173.5 billion in Q1
2005, due t o t he increase in operat ing expenses. Operat ing expenses for t he same period
company’ s f oreign syndicat ed secured debt and t o support business growt h. The weakening of
Rupiah against US Dollar f rom Rp. 8,587/ US$ as at end of Q1 2004 t o Rp. 9,480/ US$ as at end
of Q1 2005 has result ed in forex losses of Rp. 74.8 billion, most of which were unrealized losses
f rom USD 350 million Not es, not impact ing cash flows. As a result , XL experienced a net loss of
XL is t he largest privat ely owned cellular provider in Indonesia. Est ablished in November 1995
and st art ed commercial operat ion in Oct ober 1996, XL business consist s of Consumer Solut ions
2 cards and Business Solut ions as corporat e service provider based on leased line and IP (Int ernet
Prot ocol). XL’ s vision is t o become t he leading t elecommunicat ions provider in Indonesia.
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