SUBORDINATED LOANS continued MINORITY INTERESTS IN NET ASSETS OF CONSOLIDATED SUBSIDIARIES SHAREHOLDERS’ EQUITY

These consolidated financial statements are originally issued in Indonesian language. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2006 With Comparative Figures For 2005 Expressed in millions of Rupiah, unless otherwise stated 92

29. SUBORDINATED LOANS continued

Others continued Subordinated Notes SNs continued The Notes are traded on the Singapore Stock Exchange in a minimum board lot size of US200,000 full amount. The Notes are offered and sold outside of the United States to persons that are not U.S. persons as defined in Regulation S under the Securities Act in compliance with Regulation S the “Unrestricted Notes”. The Notes are initially offered and sold in the United States to qualified institutional buyers as defined in the Trust Deed and will originally be represented by a restricted global note certificate in registered form the “Restricted Global Notes Certificate” and, together with the Unrestricted Global Note Certificate, the “Global Note Certificates” and, either one of them, a “Global Note Certificate” which will be deposited with a common depository for Euroclear Bank S.A.N.V. as operator of the Euroclear System Euroclear and Clearstream Banking, Société Anonyme, Luxembourg Clearstream, Luxembourg. The issuance and classification of the SNs as Subordinated Loans has been approved by Bank Indonesia BI, through its letter No. 488DPwB2PwB23 dated July 12, 2002.

30. MINORITY INTERESTS IN NET ASSETS OF CONSOLIDATED SUBSIDIARIES

This account represents minority interests in net assets of subsidiaries as follows: 2006 2005 Dana Pensiun Bank Bumi Daya 4,072 3,650 Yayasan Dana Pensiun Bank Dagang Negara 1,058 1,002 Koperasi Karyawan - PT Bank Mandiri Persero, Tbk. 46 53 5,176 4,705

31. SHAREHOLDERS’ EQUITY

a. Authorized, Issued and Fully Paid-up Capital The Bank’s authorized, issued and fully paid-up capital as of December 31, 2006 and 2005 are as follows: 2006 Number of Nominal Value Per Share Share Value Percentage Of Shares Full Amount Full Amount Ownership Authorized Capital - Dwiwarna Share A Series 1 500 500 0.00 - Common Shares B Series 31,999,999,999 500 15,999,999,999,500 100.00 Total Authorized Capital 32,000,000,000 500 16,000,000,000,000 100.00 These consolidated financial statements are originally issued in Indonesian language. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2006 With Comparative Figures For 2005 Expressed in millions of Rupiah, unless otherwise stated 93

31. SHAREHOLDERS’ EQUITY continued