DERIVATIVE RECEIVABLES AND PAYABLES

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 51

10. DERIVATIVE RECEIVABLES AND PAYABLES continued

As of April 30, 2003, a summary of derivative transactions is as follows: Notional Amount Fair Value Derivative Derivative Transactions Contract Note 2k Receivables Payables Third parties Cross Currency: 1. Forward - buy US Dollar 343,035 331,759 - 11,276 2. Forward - sell US Dollar 329,358 318,265 11,093 - 3. Swap - buy US Dollar 303,926 302,193 55 1,788 4. Swap - selll US Dollar 1,694,471 1,372,302 322,233 64 Others Interest rate swap US Dollar 88,578 - Total 421,959 13,128 Less: Allowance for possible losses 4,198 - 417,761 13,128 Movements of allowance for possible losses on derivative receivables: Eight-Month Four-Month Year Ended Year Ended Period Ended Period Ended December 31, December 31, December 31, April 30, 2004 2003 2003 2003 Balance at beginning of period 10,343 3,626 4,198 3,626 Reversalprovision during the period 7,462 6,717 6,145 572 Balance at end of period 2,881 10,343 10,343 4,198 As of December 31, 2004 and 2003, and April 30, 2003, all derivatives were classified as Current. Management believes that the allowance for possible losses on derivative receivables is adequate. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 52

11. LOANS

A. Details of loans: a By Currency and Related Parties and Third Parties: December 31, December 31, April 30, 2004 2003 2003 Rupiah: Related parties 360,156 511,562 496,990 Third parties 61,265,753 47,681,608 41,245,530 61,625,909 48,193,170 41,742,520 Foreign Currency: Related parties 592,121 508,340 521,641 Third parties 32,184,535 27,241,110 27,139,752 32,776,656 27,749,450 27,661,393 Total 94,402,565 75,942,620 69,403,913 Less: Allowance for possible losses 8,470,700 8,890,383 9,879,080 Deferred income 164,964 209,573 203,946 85,766,901 66,842,664 59,320,887 b By Type and Rating: December 31, 2004 Special Sub- Current Mention standard Doubtful Loss Total Rupiah: Working capital 26,124,417 1,063,248 759,418 232,415 674,957 28,854,455 Investment 13,299,659 1,822,692 471,713 85,990 613,507 16,293,561 Consumer 7,995,317 620,126 125,994 49,072 124,157 8,914,666 Export 1,944,960 115,334 62,750 - 173,790 2,296,834 Syndicated 590,985 1,145,661 - 11,494 227,087 1,975,227 Government Program 1,331,340 208,148 105,014 2,923 6,922 1,654,347 Employees 1,396,330 35,213 877 567 7,189 1,440,176 Others 186,091 7,735 1,536 714 567 196,643 52,869,099 5,018,157 1,527,302 383,175 1,828,176 61,625,909 Foreign Currency: Working capital 6,909,896 382,048 315,170 57,364 257,886 7,922,364 Investment 13,276,436 1,996,053 323,998 167 1,767,438 17,364,092 Consumer 280,903 14,200 - - - 295,103 Export 2,135,911 1,019,097 203,226 - 39,663 3,397,897 Syndicated 3,081,336 124,201 48 - - 3,205,585 Government Program 110,390 - - - - 110,390 Employees 765 - - - - 765 Others 435,145 45,315 - - - 480,460 26,230,782 3,580,914 842,442 57,531 2,064,987 32,776,656 Total 79,099,881 8,599,071 2,369,744 440,706 3,893,163 94,402,565 Less: Allowance for possible losses 1,654,517 1,733,872 1,103,955 423,172 3,555,184 8,470,700 Deferred income 74,133 8,556 38,764 1,142 42,369 164,964 77,371,231 6,856,643 1,227,025 16,392 295,610 85,766,901