MINORITY INTEREST 2007 FS30Sep08EngFinal1

PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008, AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated 68

28. TREASURY STOCK continued

Based on the resolution on the AGM of Stockholders on June 29, 2007, the stockholders authorized to discontinue the phase I plan to repurchase the Series B shares and authorized the phase II plan to repurchase the Company’s issued and outstanding Series B shares. The proposals to undertake a stock repurchase programs, under the following terms and conditions: i maximum stock repurchase would be 215,000,000 of the Company’s issued Series B shares with total cost not to exceed Rp.2,000,000 million; and ii the period determined for the acquisition would not be longer than 18 months June 29, 2007 to December 28, 2008. Based on the resolution on the AGM of Stockholders on June 20, 2008, the stockholders authorized to discontinue the phase II plan to repurchase the Series B shares and authorized the phase III plan to repurchase the Company’s issued and outstanding Series B shares. The proposals to undertake a stock repurchase programs, under the following terms and conditions: i maximum stock repurchase would be 339,443,313 of the Company’s issued Series B shares with total cost not to exceed Rp.3,000,000 million; and ii the period determined for the acquisition would not be longer than 18 months June 20, 2008 to December 20, 2009. As of September 30, 2007 and 2008, the Company has repurchased 222,340,500 and 480,163,000 shares, respectively, of the Company’s issued and outstanding Series B shares, representing 1.10 and 2.38, respectively, for a total repurchased amount of Rp.1,945,901 million in 2007 and Rp.4,202,255 million in 2008 including broker’s commissions and custodian fees. The Company has planned to retain, sell or use the treasury stock for other purposes in accordance with BAPEPAM-LK Regulation No. XI.B.2 and under Law No. 402007 on Limited Liability Companies Note 52a. The movement of shares held in treasury arising from the programs for repurchase of shares is as follows: 2007 2008 Number Number of shares Rp. of shares Rp. Balance beginning 118,376,500 952,211 244,740,500 2,176,611 Number of shares acquired 103,964,000 993,690 235,422,500 2,025,644 Balance ending 222,340,500 1,945,901 480,163,000 4,202,255 Historical unit cost of repurchase of treasury shares: Rp. 2007 2008 Weighted average 8,752 8,751 Minimum 6,633 6,628 Maximum 10,978 11,200 The acquisition cost per share has included all the cost for the shares repurchase programs i.e. broker’s commissions and custodian fees. Up to the consolidated balance sheet date, none of the shares acquired were sold.