DEPOSITS FROM OTHER BANKS - TIME DEPOSITS AND CERTIFICATES OF DEPOSIT Continued

PT BANK MANDIRI PERSERO AND SUBSIDIARIES Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001 Expressed in millions of Rupiah, unless otherwise stated - 73 -

25. SECURITIES ISSUED

a. By Type and Currency: 2002 2001 Rupiah: Mandiri traveler’s cheques 240,139 116,808 Commercial papers 1 205 240,140 117,013 Foreign currency: Floating Rate Notes “FRNs” and Floating Rate Certificates of Deposit “FRCDs” 1,226,150 3,243,240 Interbank call money 10,293 23,920 Trade facilities - 12,675 1,236,443 3,279,835 Total 1,476,583 3,396,848 Less: Unamortized discount 2,342 3,345 1,474,241 3,393,503 Details of FRNs and FRCDs are as follows: December 31, 2002 _____________________________________________________________________________________________________________________________________________________________ Type Arranger Maturity Date Tenor Interest Nominal Amount ISIN No. month Rate US Rupiah Per Annum full amount equiv. _____________________________________________________________________________________________________________________________________________________________ FRN BDN Merryl Lynch Securities, Nov 10, 2005 120 2.2000 17,000,000 152,150 XS0061292263 Hongkong FRN Eurobond Hongkong and Shanghai Banking Dec 13, 2006 60 7.3300 125,000,000 1,118,750 XS0139834534 Corporation Ltd., Hongkong 142,000,000 1,270,900 Less: Securities issued and held by Bank Mandiri and Subsidiaries 5,000,000 44,750 137,000,000 1,226,150 Less: Unamortized discount 261,771 2,342 136,738,229 1,223,808 Bank Mandiri has exercised put options for FRN BEII and FRN BDN on September 19 and November 14, 2002, respectively. With the exercise of the options, FRN BEII was fully redeemed at its nominal amount of US130 million, while FRN BDN were partially redeemed up to US163 million out of US180 million nominal amount due to a “sweetener scheme” offered by the Bank. Consequently, US1,343,000 full amount was paid to those investors who did not exercise their option rights and the amount is recorded as other liabilities as at December 31, 2002. During 2002, the Bank settled its liabilities for securities issued amounting to US364,000,000 full amount.