INVESTMENTS IN SHARES OF STOCK continued

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated 64

14. PREMISES AND EQUIPMENT continued

Movements from January 1, 2006 Beginning Ending to December 31, 2006 Balance Additions Deductions Reclassifications Balance CostValuation Direct ownership Land 2,824,925 6,725 - 227,547 2,604,103 Buildings 1,463,485 11,233 1,226 67,060 1,540,552 Furnitures, fixtures, office equipment and computer equipmentsoftware 3,510,938 107,065 29,418 128,925 3,717,510 Vehicles 70,737 4,267 1,617 209 73,178 Construction in progress 272,185 134,557 47,322 192,850 166,570 8,142,270 263,847 79,583 224,621 8,101,913 Accumulated Depreciation and Amortization Note 40 Direct ownership Buildings 737,114 84,805 348 21,328 800,243 Furnitures, fixtures, office equipment and computer equipmentsoftware 2,065,724 513,860 29,110 - 2,550,474 Vehicles 34,019 9,693 1,550 209 41,953 2,836,857 608,358 31,008 21,537 3,392,670 Net book value Direct ownership Land 2,604,103 Buildings 740,309 Furniture, fixtures, office equipment and computer equipmentsoftware 1,167,036 Vehicles 31,225 4,542,673 Construction in progress 166,570 4,709,243 The premises and equipment was revalued in 1979, 1987 and 2003. The amount includes an increment in value of fixed assets based on revaluation of fixed assets of the merged banks performed by an Independent Appraiser, PT Vigers Hagai Sejahtera, using market values as of July 31, 1999. The revaluation increment was recorded prospectively on June 18, 2003 Note 14a. Reclassified to abandoned property and construction in progress. Construction in progress as of December 31, 2006 is comprised of: Product and license - Core Banking System 79,562 Buildings 30,851 Others 56,157 166,570 The construction in progress for integrated banking system agreement with PT Silverlake Informatikatama was approximately 96.22 complete whilst with Silverlake Corporation was approximately 31.72 complete as of December 31, 2006. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated 65

14. PREMISES AND EQUIPMENT continued