INVESTMENTS IN SHARES OF STOCK continued

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated 62

14. PREMISES AND EQUIPMENT continued

Movements from January 1, 2005 Beginning Ending to December 31, 2005 Balance Additions Deductions Reclassifications Balance Cost Valuation Direct ownership Land 2,829,613 301 4,989 - 2,824,925 Buildings 1,460,171 20,147 30,623 13,790 1,463,485 Furniture, fixtures, office equipment and computer equipmentsoftware 3,125,558 140,569 11,506 256,317 3,510,938 Vehicles 63,157 11,299 3,719 - 70,737 Construction in progress 265,551 239,191 - 232,557 272,185 Leased assets 81,528 - 43,978 37,550 - 7,825,578 411,507 94,815 - 8,142,270 Accumulated Depreciation and Amortization Direct ownership Buildings 695,344 76,580 34,810 - 737,114 Furniture, fixtures, office equipment and computer equipmentsoftware 1,580,906 474,020 9,229 20,027 2,065, 724 Vehicles 32,963 4,602 3,546 - 34,019 Leased assets 32,737 2,504 15,214 20,027 - 2,341,950 557,706 62,799 - 2,836,857 Net book value Direct ownership Land 2,824,925 Buildings 726,371 Furniture, fixtures, office equipment and computer equipmentsoftware 1,445,214 Vehicles 36,718 5,033,228 Construction in progress 272,185 5,305,413 The amount includes an increment in value of premises and equipment based on revaluation of fixed assets of the merged banks performed by an Independent Appraiser, PT Vigers Hagai Sejahtera, using market values as of July 31, 1999. The revaluation increment was recorded prospectively on June 18, 2003 Note 14a. Construction in progress as of December 31, 2005 is comprised of: Product and license - Core Banking System 164,554 Buildings 44,229 Others 63,402 272,185 The construction in progress was approximately 95.78 complete as of December 31, 2005. Certain premises and equipment of BSM, a subsidiary, with net book value as of December 31, 2005 amounting to Rp 33,648, have been pledged as collateral to Bank Indonesia in relation to BSM’s proposal for the settlement of its Rp32,000 subordinated loan from BI Note 29. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated 63

14. PREMISES AND EQUIPMENT continued

Movements from January 1, 2004 Beginning Ending to December 31, 2004 Balance Additions Deductions Reclassifications Balance Cost Valuation Direct ownership Land 2,903,770 185 74,342 - 2,829,613 Buildings 1,391,505 28,226 2,817 43,257 1,460,171 Furnitures, fixtures, office equipment and computer equipmentsoftware 2,484,614 175,345 45,761 511,360 3,125,558 Vehicles 47,446 21,379 5,668 - 63,157 Construction in progress 380,759 439,409 - 554,617 265,551 Leased assets 37,550 43,978 - - 81,528 7,245,644 708,522 128,588 - 7,825,578 Accumulated Depreciation and Amortization Direct ownership Buildings 599,243 98,725 2,624 - 695,344 Furnitures, fixtures, office equipment and computer equipmentsoftware 1,226,794 399,499 45,387 - 1,580,906 Vehicles 25,222 12,611 4,870 - 32,963 Leased assets 10,013 22,724 - - 32,737 1,861,272 533,559 52,881 - 2,341,950 Net book value Direct ownership Land 2,829,613 Buildings 764,827 Furniture, fixtures, office equipment and computer equipmentsoftware 1,544,652 Vehicles 30,194 5,169,286 Construction in progress 265,551 Leased assets 48,791 5,483,628 The amount includes an increment in value of fixed assets based on revaluation of fixed assets of the merged banks performed by an Independent Appraiser, PT Vigers Hagai Sejahtera, using market values as of July 31, 1999. The revaluation increment was recorded prospectively on June 18, 2003 Note 14a. Construction in progress as of December 31, 2004 is comprised of: Product and license - Core Banking System 146,960 Buildings 9,996 Others 108,595 265,551 The construction in progress was approximately 92.79 complete as of December 31, 2004.