GENERAL continued 2005 12 Full Audited Financial Statements w Notes

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 14

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d. Initial Public Offering of the Bank’s Shares continued On July 14, 2003, 19,800,000,000 of Bank Mandiri’s shares were listed on the Jakarta Stock Exchange and Surabaya Stock Exchange based on Jakarta Stock Exchange’s Approval Letter No. S- 1187BEJ.PSJ07-2003 dated July 8, 2003 and Bursa Efek Surabaya’s Approval Letter No. JKT- 028LISTBESVII2003 dated July 10, 2003. Based on an amendment to the Articles of Association approved by the Minister of Justice and Human Rights in his decision letter No. C-12783.HT.01.04.TH.2003 dated June 6, 2003 that was published in Supplement No. 6590 of State Gazette No. 63 dated August 8, 2003, the Bank’s name was changed from PT Bank Mandiri Persero to PT Bank Mandiri Persero Tbk. e. Quasi-Reorganization In order for Bank Mandiri to eliminate the negative consequences of being burdened by accumulated losses, the Bank undertook a quasi-reorganization as approved in the Shareholder’s Extraordinary General Meeting RUPSLB on May 29, 2003. The quasi-reorganization adjustments resulted in the accumulated losses of Rp162,874,901 as at April 30, 2003 being eliminated against additional paid-in capitalagio. Bank Mandiri’s Articles of Association were amended to reflect the change in additional paid-up capital as a result of quasi-reorganization, by notarial deed No. 130 of Sutjipto, S.H. dated September 29, 2003 which was approved by the Minister of Justice and Human Rights in his decision letter No. C- 25309.HT.01.04.TH.2003 dated October 23, 2003 and was published in Supplement No. 93 of State Gazette No. 910 dated October 23, 2003. On October 30, 2003, an Extraordinary Shareholders’ General Meeting RUPSLB approved the Quasi- Reorganization as at April 30, 2003. The minutes of the RUPSLB were notarized by Notary Sutjipto S.H. in notarial deed No. 165 dated October 30, 2003. f. Divestment of Government Share Ownership On March 11, 2004, the Government divested a further 10 shareholding involving 2,000,000,000 of its shares in Bank Mandiri through private placements Note 32a. g. Structure and Management Bank Mandiri’s head office is located in Jl. Jend. Gatot Subroto Kav 36-38, Jakarta, Indonesia. As of December 31, 2005 and 2004 Bank Mandiri had the following domestic and offshore structure: 2005 2004 Domestic Regional Branches 10 10 Domestic Branches: Hubs Community Branches Spokes Cash Outlets 54 98 334 423 54 95 336 304 909 789 Offshore Branches 4 4 Representative Office 1 1 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 15

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