ACCEPTANCES RECEIVABLE Bank Mandiri Tbk (english)

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 65

13. INVESTMENTS IN SHARES OF STOCK continued

a. The details of investments in shares of stock are as follows continued: In 2008, the investments coming from restructured loan through debt to equity participations Debt Equity Swap have been written-off because the Bank has owned the investments for more than 5 five years. This matter is in accordance with Bank Indonesia Regulations - PBI No. 72PBI2005 dated January 20, 2005 regarding Asset Quality Rating for Commercial Banks which has been amended by Bank Indonesia Regulation - PBI No. 112PBI2009 dated January 29, 2009. The details of investments in shares of stock as of December 31, 2007 are as follows: Accumulated Equity Investee Nature of Percentage of in Retained Earnings Companies Business Ownership Cost Accumulated Losses Carrying Value Equity Method of Accounting: PT AXA Mandiri Financial Services Insurance 49.00 16,761 103,172 119,933 PT Sarana Bersama Pembiayaan Indonesia Holding company 34.00 2,278 2,278 - 119,933 Cost Method of Accounting: Others Various 3.99 - 59.70 78,915 78,915 Total 198,848 Less: Allowance for possible losses 73,943 124,905 Including temporary investment with Debt to Equity Swap method. b. Investments in shares of stock by collectibility: 2008 2007 Current 159,773 126,168 Loss 56 72,680 Total 159,829 198,848 Less: Allowance for possible losses 1,656 73,943 158,173 124,905 c. Movements of allowance for possible losses on investments in shares of stock: 2008 2007 Balance at beginning of year 73,943 73,625 Provision during the year Note 36 339 318 Write-off 72,626 - Balance at end of year 1,656 73,943 Management believes that the allowance for possible losses on investments in shares of stock is adequate. 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 66

14. PREMISES AND EQUIPMENT

The details of premises and equipment are as follows: Movements from January 1, 2008 Beginning Ending to December 31, 2008 Balance Additions Deductions Reclassifications Balance Cost Direct ownership Land 2,710,520 20,817 - 29,794 2,761,131 Buildings 1,607,835 14,477 45,577 60,730 1,637,465 Furnitures, fixtures, office equipment and computer equipmentsoftware 3,956,361 136,129 35,697 110,492 4,167,285 Vehicles 77,025 4,407 2,363 - 79,069 Construction in progress 150,903 434,410 - 168,623 416,690 Leased Assets - 3,267 - - 3,267 8,502,644 613,507 83,637 32,393 9,064,907 Accumulated Depreciation and Amortization Note 40 Direct ownership Buildings 887,272 83,297 45,295 42 925,316 Furnitures, fixtures, office equipment and computer equipmentsoftware 3,035,079 478,530 35,300 - 3,478,309 Vehicles 48,716 10,625 2,272 - 57,069 Leased Assets - 653 - - 653 3,971,067 573,105 82,867 42 4,461,347 Net book value Direct ownership Land 2,761,131 Buildings 712,149 Furniture, fixtures, office equipment and computer equipmentsoftware 688,976 Vehicles 22,000 4,184,256 Construction in progress 416,690 Leased Assets 2,614 4,603,560 Construction in progress as of December 31, 2008 is comprised of: Product and license - Core Banking System 78,567 Buildings 10,864 Others 327,259 416,690