DEPOSITS FROM OTHER BANKS - DEMAND AND SAVINGS DEPOSITS continued

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 76

21. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS continued

f. In the second quarter of year 2005, Bank has entered into two Callable Parallel Deposit transactions with counterparty bank relating to the sale contract of Government Recapitalization Bonds. Such contract was initiated when the Bank transferred Government Recapitalization Bonds to counterparty bank and received the fund from the proceeds in Rupiah. A portion of the total transfer proceeds amounting to Rp1,268,000 was placed back as deposit to counterparty bank and then the Bank received US Dollar loan amounting to US100 million full amount. The details of Callable Parallel Deposits contracts are as follows: Deposit Effective Date Maturity Date Beginning Balance Ending Balance Interest Rate Rupiah May 16, 2005 June 20, 2013 634,000 1,493,110 11.17 United States Dollar May 17, 2005 June 15, 2013 US50 million full amount US50 million full amount 3 months LIBOR + spread Rupiah June 3, 2005 December 20, 2013 634,000 1,540,310 11.00 United States Dollar June 8, 2005 December 15, 2013 US50 million full amount US50 million full amount 3 months LIBOR + spread Zero Coupon Deposits The deposit was funded from a portion of fund received from transfer proceeds of Government Bonds to counterparty bank. Based on the agreement counterparty bank has option rights to pre-terminate the transaction by early terminationwithdrawal of the Rupiah and US Dollar deposits on any of the redemption date each year. The Agreement requires the Bank to add top up Rupiah deposit placement to counterparty bank during the period of transaction based on the movement of Rupiah against US Dollar spot rate. On June 15, 2006, the Bank has exercised the right to early terminate the facility of US50,000,000 full amount with effective date May 17, 2005. On December 15, 2006, the Bank also has exercised the right to early terminate the facility of US50,000,000 full amount with effective date June 8, 2005. In the event that counterparty bank exercise the option then the outstanding placement in Callable Zero Coupon Deposit is not automatically terminated. Based on the agreement, counterparty bank has option right to early terminate the agreement in effect of Unwind Events, which is the Bank failed to pay Rupiah deposit top up as required in the agreement. If counterparty bank exercised its option right to early terminate the agreement due to Unwind Events, the Bank has to pay Unwind Cost to counterparty bank as determined later by the counterparty bank. In addition counterparty bank has option right to early terminate the transaction if counterparty bank assess the fund received in the form of callable zero coupon deposits has higher interest rate than the market interest rate, as the counterparty bank has executed on May 28, 2007 and June 25, 2007. On May 28, 2007, counterparty bank early terminated the callable zero coupon deposits with beginning balance amounting to Rp634,000 and paid cash as settlement of the transaction on settlement date on June 20, 2007. On June 25, 2007, counterparty bank early terminated the callable zero coupon deposits with beginning balance amounting to Rp634,000 and paid cash as settlement of the transaction on settlement date on December 21, 2007. 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 77

22. SECURITIES SOLD WITH AGREEMENTS TO REPURCHASE

As of December 31, 2008, securities sold with agreements to repurchase are as follows: Securities Nominal Value Commen- cement Date Maturity Date Repurchase Value Unamortized Prepaid Interest Expense Net Value Government Bonds Rupiah Bonds VR0019 355,652 05182005 05182010 316,356 - 316,356 Bonds FR0019 231,028 11032004 11032009 285,060 - 285,060 Bonds VR0017 289,859 11042004 11042009 284,062 - 284,062 Total 876,539 885,478 - 885,478 Non Government Bonds Rupiah Bonds 50,000 09052008 03042009 50,997 350 50,647 ORI 004 26,000 09222008 01222009 24,076 189 23,887 ORI 004 11,000 09232008 01232009 10,602 83 10,519 Bonds 7,000 12092008 02022009 6,335 9 6,326 Bonds 5,000 12092008 02022009 5,102 66 5,036 Total 99,000 97,112 697 96,415 Total 975,539 982,590 697 981,893 As of December 31, 2007, securities sold with agreements to repurchase were as follows: Securities Nominal Value Commen- cement Date Maturity Date Repurchase Value Unamortized Prepaid Interest Expense Net Value Government Bonds Rupiah Bonds VR0013 617,500 06072005 01072008 617,500 - 617,500 Bonds VR0031 669,000 12192007 01032008 602,746 259 602,487 Bonds VR0031 446,000 12192007 01032008 401,829 172 401,657 Bonds VR0019 355,652 05182005 05182010 316,356 - 316,356 Bonds FR0040, FR0043 and FR0047 283,000 12282007 01282008 297,527 34 297,493 Bonds FR0019 231,028 11032004 11032009 285,060 - 285,060 Bonds VR0017 289,859 11042004 11042009 284,062 - 284,062 Bonds FR0020, FR0027, and FR0033 100,000 12282007 01112008 110,021 293 109,728 Total 2,992,039 2,915,101 758 2,914,343 The agreements to repurchase Government Bonds with counterparty banks serial numbers VR0013, VR0017, FR0019 and serial numbers VR0019 are associated with cross currency swap transactions with the respective counterparties. There is no premium or discount on these contracts.

23. ACCEPTANCES PAYABLE

a. By Currency, Related Parties and Third Parties: 2008 2007 Rupiah: Payable to other banks Third parties 85,168 74,688 Payable to debtors Third parties 8,783 118,195 Total Rupiah 93,951 192,883