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

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated 88

23. ACCEPTANCES PAYABLE

a. By Currency: December 31, April 30, December 31, 2003 2003 2002 Rupiah: Payable to other banks Related parties - - - Third parties 50,407 77,142 46,228 Total Rupiah 50,407 77,142 46,228 Foreign Currency: Payable to other banks Related parties - - - Third parties 3,200,235 2,688,977 2,029,911 Payable to debtors Related parties - - - Third parties 14,230 25,518 74,470 Total Foreign Currency 3,214,465 2,714,495 2,104,381 3,264,872 2,791,637 2,150,609 b. By Maturity: December 31, April 30, December 31, 2003 2003 2002 Rupiah: Less than 1 month 12,196 77,142 16,136 1 - 3 months 10,172 - 23,687 3 - 6 months 28,039 - 6,405 6 - 12 months - - - Over 12 months - - - 50,407 77,142 46,228 Foreign Currency: Less than 1 month 1,038,533 695,459 699,193 1 - 3 months 1,115,246 854,167 990,813 3 - 6 months 773,329 774,564 323,814 6 - 12 months 287,357 390,305 90,561 Over 12 months - - - 3,214,465 2,714,495 2,104,381 3,264,872 2,791,637 2,150,609 PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated 89

24. SECURITIES ISSUED

a. By Type and Currency: December 31, April 30, December 31, 2003 2003 2002 Rupiah: Mandiri travelers’ cheques 488,613 263,244 240,139 Commercial papers 568 564 1 Syariah Bonds 200,000 - - 689,181 263,808 240,140 Foreign Currency: Floating Rate Notes “FRNs” and Medium Term Notes “MTNs” 3,635,040 3,795,520 1,226,150 Interbank call money - 9,977 10,293 3,635,040 3,805,497 1,236,443 Total 4,324,221 4,069,305 1,476,583 Less: Unamortized discount 11,609 15,428 2,342 4,312,612 4,053,877 1,474,241 Details of FRNs and MTNs are as follows: December 31, 2003 _________________________________________________________________________________________________________________________________________________ _______ Type Arranger Maturity Date Tenor Interest Nominal Amount ISIN No. months Rate US Rupiah Per Annum full amount equiv. _________________________________________________________________________________________________________________________________________________ _______ FRN BDN Meryll Lynch Securities, Nov 10, 2005 120 2.0500 17,000,000 143,225 XS0061292263 Hong Kong FRN Eurobond Hong Kong and Shanghai Dec 13, 2006 60 6.9700 125,000,000 1,053,125 XS0139834534 Banking Corporation Ltd., Dec 13, 2004 Hong Kong Callable Date MTN Credit Suisse First XS0167272375 Boston Europe Ltd., London, Apr 22, 2008 60 7.0000 299,461,390 2,522,962 UBS Hong Kong and PT Mandiri Sekuritas 441,461,390 3,719,312 Less: Securities issued and held by Bank Mandiri and a subsidiary 10,002,611 84,272 431,458,779 3,635,040 Less: Unamortized discount 1,377,925 11,609 430,080,854 3,623,431