INTANGIBLE ASSETS continued Retirement benefits

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2011 AND 2010, AND YEARS ENDED DECEMBER 31, 2011 AND 2010 Figures in tables are presented in billions of Rupiah, unless otherwise stated 54

17. MATURITIES OF LONG-TERM LIABILITIES continued

b. Long-term portion Scheduled principal payments as of Dec 31, 2011, are as follows: In billions of Rupiah Notes Total 2013 2014 2015 2016 Later Bank loans 20 7,231 4,155 2,006 722 260 88 Bonds and notes 19 3,401 268 133 1,005 - 1,995 Two-step loans 18 2,012 197 200 202 206 1,207 Obligations under finance leases 10 314 147 94 24 16 33 Total 12,958 4,767 2,433 1,953 482 3,323

18. TWO-STEP LOANS

Two-step loans are unsecured loans obtained by the Government, which are then re-loaned to the Company. The loans entered into up to July 1994 were recorded and payable in Rupiah based on the exchange rate at the date of drawdown. Loans entered into after July 1994 are payable in their original currencies and any resulting foreign exchange gain or loss is borne by the Company. 2011 2010 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Lenders Currency in millions equivalent in millions equivalent Overseas bank Yen 9,983 1,167 10,751 1,191 Rp. - 717 - 857 US 44 400 121 1,089 Total 2,284 3,137 Current maturities Note 17a 272 396 Long-term portion Note 17b 2,012 2,741 Interest Interest Payment payment rate Lenders Currency schedule period per annum Overseas bank US Semi-annually Semi-annually 4.00 Rp. Semi-annually Semi-annually 7.71 Yen Semi-annually Semi-annually 3.10 The loans are intended for the development of telecommunications infrastructure and supporting equipment. The loans are payable in semi-annual installments and are due on various dates through 2024. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2011 AND 2010, AND YEARS ENDED DECEMBER 31, 2011 AND 2010 Figures in tables are presented in billions of Rupiah, unless otherwise stated 55

18. TWO-STEP LOANS continued

Since 2008, the Company has used all facilities under the two-step loans program and the drawdown period for the two-step loans has expired. The Company is required to maintain financial ratios as follows: a. Projected net revenue to projected debt service ratio should exceed 1.5:1 and 1.2:1 for the two-step loans originating from the World Bank and Asian Development Bank “ADB”, respectively. b. Internal financing earnings before depreciation and finance costs should exceed 50 and 20 compared to annual average capital expenditures for loans originating from World Bank and ADB, respectively. As of December 31, 2011, the Company complied with the above mentioned ratios. Refer to Note 37 for details of related party transactions.

19. BONDS AND NOTES

2011 2010 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Bonds and notes Currency in millions equivalent in millions equivalent Bonds Series A Rp. - 1,005 - 1,005 Series B Rp. - 1,995 - 1,995 Medium Term Notes “MTN” Metra Rp. - 59 - 47 Sigma Rp. - 30 - 30 PT Finnet Indonesia “Finnet” Rp. - 18 - 24 Promissory Notes Huawei Tech US 60 545 23 211 PT. ZTE Indonesia “ZTE” US 15 134 7 64 Total 3,786 3,376 Current maturities Note 17a 385 127 Long-term portion Note 17b 3,401 3,249 a. Bonds Interest Interest Listed Issuance Maturity payment rate Bonds Principal Issuer on date date method per annum Series A 1,005 The Company IDX June 25, 2010 July 6, 2015 Quarterly 9.60 Series B 1,995 The Company IDX June 25, 2010 July 6, 2020 Quarterly 10.20 Total 3,000 The bonds are secured by all assets owned by the Company. The underwriter of the bonds are PT Bahana Securities, PT Danareksa Sekuritas and PT Mandiri Sekuritas. And the trustee is PT CIMB Niaga Tbk. The Company received the proceeds of the issuance of bonds on July 6, 2010.