SUBORDINATED LOANS continued 2004 06 Full Audited Financial Statements w Notes

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 98

31. SUBORDINATED LOANS continued

b. By Type: June 30, 2004 June 30, 2003 April 30, 2003 Two-Step Loans TSL a Nordic Investment Bank NIB 339,014 381,278 381,282 b Export-Import Bank of Japan EBJ 117,241 188,214 188,214 c Asian Development Bank ADB 18,124 33,022 33,022 d International Bank for Reconstruction and Development IBRD 33,171 46,399 46,577 e ASEAN Japan Development Fund Overseas Economic Cooperation Fund AJDF-OECF 112,206 124,673 124,673 f ASEAN Japan Development Fund - Export- Import Bank of Japan AJDF-EBJ 5,623 6,748 7,310 g Kreditanstalt fur Wiederaufbau, Frankfurt KfW 86,355 86,069 91,614 711,734 866,403 872,692 Bank Indonesia 768,859 1,254,859 1,416,859 Investment Fund Account RDI ex-Two-Step Loans 138,626 415,878 415,878 Others 3,485,862 3,048,071 3,195,648 5,105,081 5,585,211 5,901,077 Two-Step Loans TSL a Nordic Investment Bank NIB This account represents a credit facility obtained from NIB 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 Nordic Investment Bank II Nordic Investment Bank III Nordic Investment Bank IV To promote and finance high priority investments in Indonesia, primarily in the private sector, or joint Indonesian and Nordic interests. To promote and finance high priority investments in Indonesia, primarily in the private sector, or joint Indonesian and Nordic interests. To promote and finance high priority investments in Indonesia, primarily in the private sector, or joint Indonesian and Nordic interests. December 10, 1990 - July 15, 2005 with the 1 st installment on January 15, 1996. August 4, 1993 - August 15, 2008 with the 1 st installment on February 15, 1999. April 15, 1997 - February 28, 2017 with the 1 st installment on August 31, 2002. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 99

31. SUBORDINATED LOANS continued