OTHER LIABILITIES Continued SUBORDINATED LOANS

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 - 86 -

30. SUBORDINATED LOANS Continued

Two-Step Loans Continued The annual interest rate on the NIB I facility is 1.75 above the interest rate charged by NIB to the Government of the Republic of Indonesia or the interest rate charged on channeling loans to customers less 6, whichever is higher. The NIB I facility was fully paid in July 2002. The interest rate on the NIB II facility is based on the past six months’ average interest rate for three-month Certificates of Bank Indonesia which should: Not be higher than the average interest rate for three-month time deposits for the past six months in the five state-owned banks. Not be lower than the interbank interest rate to the Government of the Republic of Indonesia plus 1.75. The interest rate on the NIB III facility was based on the previous six months’ variable interest rate as determined by Bank Indonesia based on the prevailing average interest rates for the past six months for three-month Certificates of Bank Indonesia. The interest rate on the NIB IV facility was based on the previous six months’ variable interest rate as determined by Bank Indonesia based on the prevailing average interest rates for the past six months for three-month Certificates of Bank Indonesia. b Export-Import Bank of Japan EBJ This account represents credit facilities obtained from the Export-Import Bank of Japan through the Government of the Republic of Indonesia, via the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows: Credit Facility Purpose Repayment Period EBJ-TSL I To finance private sector projects included in Priority Scale List from or approved by the Investment Coordinating Board. July 7, 1988 - January 15, 2005 with the 1 st installment on July 15, 1992. EBJ-TSL II To finance private and state-owned company projects in sectors prioritized by the Government and export- oriented. October 14, 1989 - October 1, 2004 with the 1 st installment on April 1, 1993. EBJ-TSL III To finance private and state-owned company projects in sectors prioritized by the Government and which are export-oriented. January 21, 1991 - July 15, 2005 with the 1 st installment on January 15, 1994. EBJ-TSL IV To finance projects which help to increase investments in the private sector and which are export-oriented. January 28, 1992 - January 15, 2007 with the 1 st installment on July 15, 1995. EBJ-TSL V To finance small-scale industry, primarily the manufacturing sector and export-oriented. May 27, 1992 - March 15, 2003 with the 1 st installment on September 15, 1994. 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 - 87 -

30. SUBORDINATED LOANS Continued