SUBORDINATED LOANS continued Bank Mandiri Tbk (english)

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated 90

29. SUBORDINATED LOANS continued

Two-Step Loans TSL continued d Asian Development Bank ADB continued The Ministry of Finance of the Republic of Indonesia had issued letter No. S-596MK.62004 dated July 12, 2004, which approved the transfer of Micro Credit Project of ADB loans No. 1327-INO SF from Bank Indonesia to Bank Mandiri. With the transfer approval, an amendment was made on channeling loan No. SLA-805DP31995 dated April 27, 1995, which was revised by amendment No. AMA-287SLA-805DP32003 dated April 22, 2003, from the Republic of Indonesia and Bank Indonesia to the Republic of Indonesia and PT Bank Mandiri Persero Tbk., under No. AMA-298SLA- 805DP32004 dated July 16, 2004. The ADB Loans for Micro Credit Projects was extended in SDR Special Drawing Rights for SDR 15,872,600.44 full amount which is repayable by Bank Mandiri in SDR to the Government of the Republic of Indonesia in fifty semi-annual equal installments every January 15 and July 15, with the first installment was paid on January 15, 2005 and the last will be on July 15, 2029. The ADB loans are subject to a service charge of 1.50 per annum every January 15 and July 15 starting from the drawdown of the loans. The annual interest rates on the ADB Perkebunan Nusantara XII and Nescoco Inti facilities are 9.50 and 10.00 per annum, respectively. Bank has settled the loan facility of ADB for Perkebunan Nusantara XII and Nescoco Inti on September 15, 2008. e Kreditanstalt fur Wiederaufbau KfW This account represents a credit facility from KfW to the Government of the Republic of Indonesia through Bank Indonesia BI and is disbursed by Bank Mandiri to finance export contracts denominated in Deutsche Marks DM with a maximum of DM250,000,000 full amount for the supply of capital goods, investments in infrastructure projects such as transportation, energy or communications projects, and transfer of new technologies between buyers domiciled in Indonesia and exporters domiciled in the Federal Republic of Germany. Prior to importing supplies from Germany, the buyer shall sign an Individual Loan Agreement ILA with approval from BI, KfW and the Government of the Republic of Indonesia. The financing shall be limited to an amount of up to 85 of the total price in DM of each Export Contract. In the event that the total price shall be reduced during the period of disbursement, KfW shall reduce the individual loans proportionally. The minimum order value of an Export Contract is DM353,000 full amount of which the resulting credit element would be DM300,000 full amount. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated 91

29. SUBORDINATED LOANS continued