ACCEPTANCES PAYABLE 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 80

25. FUND BORROWINGS

2008 2007 Rupiah: PT Permodalan Nasional Madani Persero a 241,974 326,122 The Government of Republic of Indonesia c Note 47a 240,000 280,000 Bank Indonesia c 214,337 392,150 Others f 710,000 625,743 Total Rupiah 1,406,311 1,624,015 Foreign Currency: Direct Off - shore Loans d 4,065,700 845,370 Trade financing facilities e 3,899,497 6,875,676 Total Foreign Currency 7,965,197 7,721,046 Total 9,371,508 9,345,061 As of December 31, 2008 and 2007, fund borrowings from related parties amounted to Rp240,000 and Rp280,000, respectively Note 47a. a PT Permodalan Nasional Madani Persero This account represents credit facilities obtained from PT Permodalan Nasional Madani Persero to Bank Mandiri and Bank Sinar Harapan Bali BSHB. The outstanding loan balance as of December 31, 2008 for Bank Mandiri and BSHB are Rp219,050 and Rp22,925, respectively. These facilities are subjected to interest at 7 per annum. The loan terms and installment reflects the terms of the individual loan agreement, that will matured on December 2013. Bank Mandiri re-lent the proceeds to the Members of Primary Cooperation Kredit Koperasi Primer kepada Anggotanya [KKPA]. b The Government of Republic of Indonesia This account represents credit facilities obtained from The Government of Republic of Indonesia based on agreement No. KP-022DP32004 dated May 14, 2004 which was amended with agreement No. AMA-7KP-022DP32004 dated December 15, 2004 and letter No. 5-662PB.72005 dated May 13, 2005 regarding amendment of loan agreement between The Government of Republic of Indonesia and PT Bank Mandiri Persero Tbk No. KP-022DP32004 dated May 14, 2004. This borrowing is re-loaned by Bank Mandiri to the small and micro businesses which procedures, arrangements and requirements of the relending program are agreed with the Decision Letter of Ministry of Finance No. 40KMK.062003 dated January 29, 2003 regarding Credit Financing Facilities for Small and Micro Businesses and amended with Decision Letter of Ministry of Finance No. 74KMK.062004 dated February 20, 2004. This facility bears interest at 3-month SBI rate which will be determined every four months at March 10, June 10, September 10 and December 10 based on the latest SBI auction rate. The repayment of the borrowing will be made in five 5 installments and the first installment will be due on December 10, 2007. The first installment paid amounted to Rp70,000 on December 10, 2007. This facility will mature in December 2019. c Bank Indonesia This account represents a credit liquidity facility obtained from Bank Indonesia BI, which was re- loaned to Bank Mandiri customers under the Government Credit Program. The management and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a state- owned company, based on Law No. 231999 dated May 17, 1999 regarding BI, BI Regulation No. 23PBI2000 dated February 1, 2000 and BI Regulation No. 520PBI2003 dated September 17, 2003 regarding the Hand-over of Management of Credit Liquidity of Bank Indonesia Under Credit Program. This facility is subject to interest at rates ranging from 3 to 9 per annum and will mature on various dates through 2017. The details of this account are as follows: 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 81

25. FUND BORROWINGS continued

c Bank Indonesia continued 2008 2007 Rupiah: Small-Scale Working Capital Loans KKPA 135,971 285,484 Small-Scale Investment Loans KIK 52,889 74,132 Investment Loans KI 25,477 32,534 214,337 392,150 d Direct Off-shore Loans The details of direct off-shore loans are as follows: 2008 2007 Deutsche Bank International Asia Ltd, Singapore 3,270,000 - Syndication of Oversea - Chinese Banking Corporation, United Overseas Bank Limited, Intesa San Paolo S.P.A., DZ Bank AG Deutsche Zentral - Genossenschaftsbank, Bank Muscat S..A.O.G. 599,500 563,580 Sumitomo Mitsui Banking Corporation, Singapore 196,200 281,790 4,065,700 845,370 Borrowing from Deutsche Bank International Asia Ltd , Singapore bears interest rate at three- month LIBOR plus an applicable margin. Syndicated borrowing from Oversea - Chinese Banking Corporation, United Overseas Bank Limited, Intesa San Paolo S.P.A., DZ Banki AG Deutsche Zentral - Genossenschaftsbank, Bank Muscat S.A.O.G. bear interest at three-month SIBOR plus an applicable margin. Borrowing from Sumitomo Mitsui Banking Corporation, Singapore bear interest at three-month SIBOR plus an applicable margin. These borrowings will be fully paid on maturity date. e Trade Financing Facilities Trade financing facilities represent short-term borrowings with tenors between 180 to 365 days and bear interest at LIBOR or SIBOR plus an applicable margin. These borrowings are guaranteed by letters of credit issued by Bank Mandiri. The details of the borrowings are as follows: The details of trade financing facilities are as follows: 2008 2007 Wachovia Bank NA, United States of America 708,500 704,475 Bank of New York Mellon, Singapore before Bank of New York 654,000 751,440 ABN AMRO Bank NV, Singapore 574,997 610,545 JP Morgan Chase NA, Singapore 545,000 939,300 Bank of Nova Scotia, Hong Kong 490,500 - Dresdner Bank, AG, Frankfurt 272,500 140,895 Credit Suisse, Zurich 218,000 - Bank of Nova Scotia, Singapore 218,000 469,650 Oversea-Chinese Banking Corporation Limited, Singapore 218,000 234,825 ING Bank, Singapore - 563,580 Credit Suisse, Singapore - 469,650 Standard Chartered Bank, Singapore - 469,650 Commerzbank AG, Frankfurt - 375,720 DBS Bank, Ltd., Singapore - 281,790 American Express Bank, New York - 281,790 National Bank of Dubai - 234,825 Bank of America, San Francisco - 187,860 DZ Bank AG Deutsche Zentral - Genossenschaftsbank, Singapore - 159,681 3,899,497 6,875,676