Tax expense - Deferred

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2010, 2009 AND 2008 Expressed in millions of Rupiah, unless otherwise stated Appendix 5111 31. SUBORDINATED LOANS By Type and Currency: 2010 2009 2008 Rupiah: Two-Step Loans TSL a Nordic Investment Bank NIB 138,480 159,784 181,089 b ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF - OECF 32,503 45,504 58,505 c ASEAN Japan Development Fund - Export - Import Bank of Japan AJDF - EBJ - - 562 170,983 205,288 240,156 Bank Indonesia 2,230,259 2,319,559 2,366,859 Subordinated Bond Rupiah Bank Mandiri I 3,476,460 3,500,000 - Total Rupiah 5,877,702 6,024,847 2,607,015 Foreign currencies: Two-Step Loans TSL d Asian Development Bank ADB 178,870 192,221 229,635 Total foreign currencies Note 56e 178,870 192,221 229,635 6,056,572 6,217,068 2,836,650 Two-Step Loans TSL a Nordic Investment Bank NIB This account represents a credit facility obtained from Nordic Investment Bank NIB to the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance several projects in Indonesia. The detail of this facility is as follows: Credit Facility Purpose Repayment Period Nordic Investment Bank IV To promote and finance high priority investment projects in Indonesia, primarily in the private sector, or joint Indonesian and Nordic interests. 15 April 1997 – 28 February 2017 with the 1 st installment on 31 August 2002. The details of credit facilities from NIB are as follow: 2010 2009 2008 Nordic Investment Bank IV NIB IV 138,480 159,784 181,089 The interest rates on the NIB IV facility is based on variable interest rates as determined by Bank Indonesia in accordance with the prevailing average interest rates of 3 three months Certificate of Bank Indonesia in the last six months. b ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF - OECF This account represents a credit facility obtained from ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF - OECF to the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance several projects in Indonesia. The detail of this facility is as follows: Credit Facility Purpose Repayment Period Pollution Abatement Equipment Program PAE Small Scale Industry SSI To purchase equipment to prevent pollution. To finance small-scale industry. 19 August 1993 – 19 August 2013, with 1 st installment on 15 August 1998. 19 August 1993 – 19 August 2013, with 1 st installment on 15 August 1998. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2010, 2009 AND 2008 Expressed in millions of Rupiah, unless otherwise stated Appendix 5112 31. SUBORDINATED LOANS continued Two-Step Loans TSL continued b ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF - OECF continued The details of outstanding credit facilities from the AJDF - OECF are as follow: 2010 2009 2008 a Pollution Abatement Equipment Program PAE 31,463 44,048 56,633 b Small Scale Industry SSI 1,040 1,456 1,872 32,503 45,504 58,505 The payment on the above AJDF - OECF facilities are within 20 twenty years after the first drawdown inclusive of a 5 years grace period and will be settled in 30 thirty semi-annual installments starting on 15 August 1998 to 15 February 2013. The PAE facility is subject to variable interest rates determined every 6 six months based on the prevailing average interest rate of the 3 three months Certificates of Bank Indonesia for the last 6 six months, less 5.00 per annum. The SSI facility is subject to variable interest rates determined every 6 six months based on the prevailing average interest rate of 3 three months Certificates of Bank Indonesia for the last 6 six months, less 2.50 per annum. c ASEAN Japan Development Fund - Export - Import Bank of Japan AJDF - EBJ This account represents a credit facility obtained from ASEAN Japan Development Fund - Export - Import Bank of Japan AJDF - EBJ to the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which are re-lent to a number of participating banks including Bank Mandiri to provide investment and working capital financing to small-scale industries. The credit facility amounting to Rp9,560 with 15 fifteen years repayment period after the first drawdown inclusive of 3 years grace period by 24 twenty four semi-annual installments with the first installment starting on 15 December 1997. The facility is subject to an interest rate determined every 6 six months based on the prevailing average interest rate of the 3 three months Certificates of Bank Indonesia for the past six months. The Bank had fully paid the AJDF - EBJ loan facilities on 15 June 2009. d Asian Development Bank ADB This account represents credit facilities from Asian Development Bank ADB to the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which are re-lent to participating banks to finance several projects in Indonesia. The detail of this facility is as follows: Credit Facility Purpose Repayment Period ADB 1327 - INO SF To finance Micro Credit Project PKM. 15 January 2005 - 15 July 2029 with 1 st installment on 15 January 2005. The details of credit facilities from ADB are as follow: 2010 2009 2008 ADB 1327 - INO SF 178,870 192,221 229,635