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PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 162

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The Consolidated Balance Sheets as of April 30, 2003 before and after Quasi-Reorganization are as follows: Before Quasi- Reorganization After Quasi- Reorganization ASSETS Cash 1,846,539 1,846,539 Current accounts with Bank Indonesia 9,643,221 9,643,221 Current accounts with other banks - net 412,651 412,651 Placements with Bank Indonesia and other banks - net 7,019,538 7,019,538 Securities - net 12,734,855 12,734,855 Government bonds 150,332,380 150,332,380 Trade documents and other facilities - net 1,971,769 1,971,769 Derivative receivables - net 417,761 417,761 Loans - net 59,320,887 59,320,887 Acceptances receivables - net 2,688,233 2,688,233 Investments in shares of stock - net 122,271 122,271 Fixed assets - net 2,043,088 2,043,088 Deferred tax assets - net 2,923,968 2,923,968 Other assets - net 9,808,748 9,808,748 Total Assets 261,285,909 261,285,909 LIABILITIES AND SHAREHOLDER’S EQUITY Other short-term liabilities 443,908 443,908 Deposits from customer 187,224,517 187,224,517 Deposits from other banks 13,790,831 13,790,831 Securities sold with agreements to repurchase 735,000 735,000 Derivative payables 13,128 13,128 Acceptances payable 2,791,637 2,791,637 Securities issued 4,053,877 4,053,877 Fund borrowings 12,658,279 12,658,279 Estimated losses on commitments and Contingencies 1,488,315 1,488,315 Accrued expenses 974,474 974,474 Taxes payable 1,091,009 1,091,009 Other liabilities 9,906,046 9,906,046 Subordinated loans 5,901,077 5,901,077 Loan capital 2,926,193 2,926,193 Total Liabilities 243,998,291 243,998,291 Minority interests in net assets of consolidated subsidiaries 3,238 3,238 SHAREHOLDER’S EQUITY Share capital 4,251,000 4,251,000 Additional paid-in capitalagio 173,550,319 10,675,418 Differences arising from translation of foreign currency financial statements 48,498 48,498 Unrealized gains on securities and Government Recapitalization Bonds available for sale 1,299,676 1,299,676 Premises and equipment revaluation increment 9,788 9,788 Retained earningsaccumulated losses: Appropriated 3,155,386 1,000,000 Unappropriated 165,030,287 - 161,874,901 1,000,000 Total Shareholder’s Equity 17,284,380 17,284,380 TOTAL LIABILITIES AND SHAREHOLDER’S EQUITY 261,285,909 261,285,909 PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 163

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