DEPOSITS FROM OTHER BANKS - DEMAND DEPOSITS

PT BANK MANDIRI PERSERO AND SUBSIDIARIES Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001 Expressed in millions of Rupiah, unless otherwise stated - 70 -

22. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS AND CERTIFICATES OF DEPOSIT Time Deposits

a. By Currency: 2002 2001 Rupiah 11,296,352 8,973,040 Foreign currency 206,325 92,158 11,502,677 9,065,198 b. By Period: 2002 2001 ____________ Rupiah: Less than 1 month 9,678,158 4,433,749 3 months 1,615,594 4,121,210 6 months 450 35,435 12 months 2,150 368,301 Over 12 months - 14,345 ____________ 11,296,352 8,973,040 Foreign currency: Less than 1 month 67,438 44,436 3 months 110,079 42,120 6 months 28,808 5,602 12 months - - Over 12 months - - ____________ 206,325 92,158 ____________ 11,502,677 9,065,198 c. Annual Average Interest Rates for the Year: 2002 2001 Rupiah 14.64 15.62 Foreign currency 3.24 5.42 PT BANK MANDIRI PERSERO AND SUBSIDIARIES Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001 Expressed in millions of Rupiah, unless otherwise stated - 71 -

22. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS AND CERTIFICATES OF DEPOSIT Continued

Certificates of Deposit The annual average interest rate for certificates of deposit is 14.64 and 15.62 for 2002 and 2001, respectively. The terms are as follows: 2002 2001 Rupiah: 1 month 30 265,050 3 months - 1,152,550 6 months - 484,000 12 months - 812,000 Total 30 2,713,600 Less: Unamortized interest - 172,557 30 2,541,043 d. As of December 31, 2002 and 2001, the Bank has no time deposits and certificates of deposit from related party banks . e. As of December 31, 2002 and 2001 time deposits which are frozen and blocked as collateral for bank guarantees and loan and working capital facilities, amounted to Rp17,530 and Rp6,074, respectively.

23. SECURITIES SOLD WITH AGREEMENT TO REPURCHASE

December 31, 2002 Counter-party Commencement date Maturity date Nominal Remark Deutsche Bank Jan 31, 2002 Jan 31, 2004 735,000 Government Bonds FR0002 735,000 The Bank sold Government Bonds with an agreement to repurchase, and entered into a swap transaction with Deutsche Bank. At the beginning of the contract, the Bank received Rupiah in the amount of Rp735,000 and at the maturity date, the Bank will repay US Dollars amounting to US50,000,000 full amount to Deutsche Bank Notes 8 and 11.