Disposal of PT Anugerah Kasih continued

Adaro Energy Annual Report 2008 www.adaro.com 151 Contact Us Governing Adaro Financial Report Corporate Social Responsibility PT ADARO ENERGY Tbk Schedule 519 FORMERLY PT PADANG KARUNIA AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2008 AND 2007 Expressed in million Rupiah, unless otherwise stated

3. ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES continued

m. Acquisition of Revere Group Ltd and Decimal Investments Ltd continued ii.

Acquisition of Decimal Investments Ltd On 17 December 2007, ATA increased its interest in Decimal by 53.57, resulting in it owning 100 of Decimal for an amount of US44,931,344 Rp 416,765. As such, Decimal has been consolidated to ATA and the Group’s consolidated financial statements since December 2007. 2007 Purchase consideration through cash payment 416,765 Fair value of net assets acquired 53,067 Goodwill 363,698 Details of the assets and liabilities arising from the acquisition are as follows: 2007 Amounts due from related parties 114 Investments in equity securities 113,419 Accrued expenses 41 Amounts due to related parties 8,571 Loans from shareholders 5,861 Net assets 99,060 Interest acquired 53.57 Net assets acquired 53,067 Goodwill 363,698 Cash and cash equivalents in Decimal - Net cash outflow from acquisition of subsidiary 416,765 Since December 2007, by holding the 100 interest in Revere and Decimal, ATA has acquired indirect ownership of 63.94 in Biscayne. Therefore, ATA consolidates the financial statements of Biscayne and its subsidiary. The ownership in Revere and Decimal also resulted in a 50 indirect ownership in PT Rachindo Investments “Rachindo” amounting to Rp 4,778 and a 33 indirect ownership in Arindo Global amounting to Rp 50. From its ownership in Biscayne and Dianlia, which own 58.23 and 8.93 interest in IBT, respectively, ATA has indirect ownership in IBT of 67.16. Dianlia’s portion of the net income of IBT has been recorded in the consolidated statement of income of ATA and the Group.

n. Acquisition of Arindo Holdings Mauritius Ltd by Rach Mauritius Ltd

On 24 January 2008, Rach M, a subsidiary of Decimal, increased its interest in Arindo Holdings, which through Vindoor, owns 100 interest in Coaltrade, from 32 to 64, for US1 or equivalent to Rp 9,419 full amount. From this increase, the financial statements of Arindo Holdings and its subsidiaries were consolidated to the consolidated financial statements of Rach M, ATA and the Group. 2008 Purchase consideration through cash payment - Fair value of net liabilities acquired 40,749 Goodwill 40,749