MARKETABLE SECURITIES Employee benefit continued

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 558 7. MARKETABLE SECURITIES continued c. By Remaining Period to Maturity: 2011 2010 Rupiah: No maturity date 623,267 207,090 1 year 3,733,949 18,823,027 ≥ 1 5 years 6,279,494 6,532,711 ≥ 5 ≤ 10 years 316,905 107,210 10 years 5,000 - Total Rupiah 10,958,615 25,670,038 Foreign currencies: 1 year 1,093,835 1,533,360 ≥ 1 5 years 234,370 138,350 ≥ 5 ≤ 10 years 28,615 18,020 10 years 17,964 - Total foreign currencies 1,374,784 1,689,730 Total 12,333,399 27,359,768 Lessadd: Unamortised discounts 9,269 17,009 Unrealised lossgain on decreaseincrease in fair value of securities 70,119 153,665 Allowance for impairment losses 251,093 248,895 330,481 112,239 12,002,918 27,247,529 d. By Issuer: 2011 2010 Corporate 7,810,940 6,859,821 Government and Bank Indonesia 3,142,216 18,909,673 Banks 1,380,243 1,590,274 Total 12,333,399 27,359,768 Lessadd: Unamortised discounts 9,269 17,009 Unrealised lossgain on decreaseincrease in fair value of securities 70,119 153,665 Allowance for impairment losses 251,093 248,895 330,481 112,239 12,002,918 27,247,529 e. Details of Bonds by Rating: Rating Fair ValueAmortised Cost 31 December 31 December 31 December 31 December Rating Agencies 2011 2010 2011 2010 Rupiah Fair value through profit or loss Bonds PT Bank International Indonesia Tbk. Pefindo idAA+ - 109,840 - PT Sarana Multigriya Finansial Persero Pefindo idAA - 55,125 - PT Aneka Tambang Persero Tbk. Pefindo idAA - 45,161 - PT Jasa Marga Persero Tbk. Pefindo idAA - 28,921 - PT Adira Dinamika Multifinance Tbk. Pefindo idAA+ - 27,098 - PT Lautan Luas Tbk. Pefindo idA- idA - 2,052 2,027 PT Telekomunikasi Indonesia Persero Tbk. Pefindo - idAAA - 5,049 Others Pefindo idD – idAAA idD – idAA+ 2,779,555 62,467 3,047,752 69,543 PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 559 7. MARKETABLE SECURITIES continued e. Details of Bonds by Rating continued: Rating Fair ValueAmortised Cost 31 December 31 December 31 December 31 December Rating Agencies 2011 2010 2011 2010 Available for sale Sharia Corporate PT Titan Petrokimia Nusantara Fitch A+idn A+idn 52,875 52,250 PT Perusahaan Listrik Negara Persero Pefindo idAA+ idAA+ 33,600 31,170 PT Bank Pembangunan Daerah Sulsel Pefindo idA - 13, 065 - 99, 540 83,420 Bonds PT Jasa Marga Persero Tbk. Pefindo idAA idAA 13,146 11,850 112,686 95,270 Held to maturity Sharia Corporate Bonds PT Indosat Tbk . Pefindo idAA+ idAA+ 168,109 168,179 PT Berlian Laju Tanker Tbk. Pefindo idA- idA - 87,006 87,019 PT Salim Ivomas Pratama Pefindo idAA idAA- 60,000 60,000 PT Mitra Adiperkasa Tbk. Pefindo idA+ idA+ 30,000 30,000 PT Bakrieland Development Tbk. Pefindo idBBB+ idBBB+ 20,000 20,000 BBB idn – BBB idn – A- idn, A- idn, Others Various idD – idAA+ idD – idAA+ 588,050 588,105 953,165 953,303 Bonds PT Indosat Tbk. Pefindo idAA+ idAA+ 222,193 220,293 PT Indofood Sukses Makmur Tbk. Pefindo idAA+ idAA 199,641 193,401 PT Arpeni Pratama Ocean Line Pefindo idD idD 86,096 85,670 507,930 499,364 1,461,095 1,452,667 Total Rupiah 4,621,533 1,617,480 Foreign currencies Fair value through profit or loss Obligasi PT Perusahaan Listrik Negara Persero Fitch BBB- - 18,651 - Available for sale Bonds Standard Chartered Bank SP A+ - 19,057 - Oversea -Chinese Banking Corporation Ltd SP - A- - 28,076 19,057 28,076 Held to maturity Bonds Oversea -Chinese Banking Corporation Ltd SP - A- - 18,645 Others SP - BBB – A - 45,015 - 63.660 Loan and Receivable Bond Advance SCT - - 9,588 - Total foreign currencies 47,296 91,736 Information on rating of bonds were obtained from Bloomberg, which is based on ratings issued by the rating agencies, such as Pemeringkat Efek Indonesia, Standard and Poor’s, and Fitch Ratings. Held to maturity securities are stated at amortised costs. As at 31 December 201 1, the bonds with fair value through profit or loss classification mainly comprise of treasury bills Surat Perbendaharaan Negara which has no rating. On 25 January 2012 bonds issued by PT Berlian Laju Tanker Tbk. were downgraded from idA- to idCCC by Pefindo. The bond is not rated. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 560 7. MARKETABLE SECURITIES continued f. Average Interest Rate yield per Annum: 2011 2010 Rupiah 5.27 6.14 Foreign currencies 5.07 8.22 g. Movements of allowance for impairment losses on marketable securities: 2011 2010 Balance at beginning of year 248,895 53,492 Adjustment to opening balance relating to implementation of SFAS 55 Revised 2006 Note 50 - 2,354 Allowance during the year Note 39 17,530 167,895 Others 15,332 29,862 Balance at end of year 251,093 248,895 Includes effect of foreign exchange translation. Management believes that the allowance for impairment losses on marketable securities is adequate. h. Information in respect of classification of “non-impaired” and “impaired” is disclosed in Note 57A. As at 31 December 2011 and 2010, the Bank has investment in mutual fund units classified as available for sale, which consist of Reksa Dana Terproteksi BNP Paribas Selaras, Reksa Dana Terproteksi BNP Paribas Selaras 2, Reksa Dana Terproteksi Schroder Regular Income Plan X, Reksa Dana Terproteksi Schroder Regular Income Plan XI and Reksa Dana Terproteksi Schroder Regular Income Plan XII with fair value as at 31 December 2011 amounting to Rp1,505,881, Rp1,008,150, Rp803,102, Rp806,173 and Rp900,308, respectively 2010: amounting to Rp1,509,170, Rp1,011,540, Rp804,849, Rp808,898, and Rp900,614.

8. GOVERNMENT BONDS

This account consists of bonds issued by Government of the Republic of Indonesia which are obtained by the Group from primary and secondary markets as at 31 December 2011 and 2010 , are as follows: 2011 2010 Related party Note 51 Fair value through profit or loss, at fair value 1,408,982 611,707 Available for sale, at fair value 53,667,392 54,052,164 Held to maturity, at amortised cost 23,383,075 23,428,863 78,459,449 78,092,734 a. By Maturity The Government Bonds, by remaining period of maturity, are as follow: 2011 2010 Rupiah Fair value through profit or loss Less than 1 year 150,224 566 1 - 5 years 550,344 290,659 5 - 10 years 152,619 144,013 Over 10 years 424,235 176,469 1,277,422 611,707 Available for sale 1 - 5 years 3,942,029 4,147,949 5 - 10 years 49,725,363 49,904,215 53,667,392 54,052,164 PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 561 8. GOVERNMENT BONDS continued a. By Maturity continued 2011 2010 Held to maturity Less than 1 year 10,555 57,477 1 - 5 years 13,652,955 2,758,366 5 - 10 years 9,435,312 20,322,172 Over 10 years 110,654 119,803 23,209,476 23,257,818 Total Rupiah 78,154,290 77,921,689 Foreign currency Fair value through profit or loss 5 - 10 years 131,560 - Held to maturity 1 - 5 years 155,475 153,038 5 - 10 years 18,124 18,007 173,599 171,045 Total foreign currency Note 57B.v 305,159 171,045 78,459,449 78,092,734 b. By Type 31 December 2011 Interest Rates Maturity Frequency of Nominal per Annum Fair Value Dates Interest Payment Rupiah Fair value through profit or loss 15012012 – Fixed rate bonds 1,159,516 7.00 - 14.28 1,277,422 15072038 1 and 6 Months Available for sale 25122014 – Variable rate bonds 54,310,774 SPN 3 Months 53,667,392 25072020 3 Months Amortised Interest Rates Maturity Frequency of Cost Per annum Dates Interest Payment Rupiah Held to maturity 9.00 - 15012012 - Fixed rate bonds 1,464,878 14.28 15052037 1 and 6 Months 25122014 - Variable rate bonds 21,744,598 SPN 3 Months 250920 17 3 Months 23,209,476 PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 562 8. GOVERNMENT BONDS continued b. By Type continued 31 December 2011 Interest Rates Maturity Frequency of Nominal per Annum Fair Value Dates Interest Payment Foreign currency Fair value through profit or loss 21112018 - Fixed rate bonds 128,570 4.00 - 4.88 131,560 05052021 6 Months Amortised Interest Rates Maturity Frequency of Cost Per annum Dates Interest Payment Foreign currency Held to maturity 6.75 - 10032014 - Fixed rate bonds 173,599 10.38 09032017 6 Months 31 December 2010 Interest Rates Maturity Frequency of Nominal per Annum Fair Value Dates Interest Payment Rupiah Fair value through profit or loss 7.38 - 12092011 - Fixed rate bonds 550,563 14.28 611,707 15072038 1 and 6 months Available for sale 25122014 - Variable rate bonds 54,510,774 SBI 3 months 54,052,164 25072020 3 months Amortised Interest Rates Maturity Frequency of Cost Per annum Dates Interest Payment Rupiah Held to maturity 9.00 - 15082011 - Fixed rate bonds 1,513,220 14.28 15052037 1 - 6 months 25122014 - Variable rate bonds 21,744,598 SBI 3 months 25092017 3 months 23,257,818 Foreign currency Held to maturity 6.75 - 10032014 - Fixed rate bonds 171,045 10.38 09032017 6 months c. Other Information As at 31 December 2011 and 2010, there are no Government Bonds sold to third party with agreements to repurchase. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 563 8. GOVERNMENT BONDS continued