SECURITIES continued 2004 06 Full Audited Financial Statements w Notes

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 38

8. SECURITIES continued

d. By Issuer: continued June 30, 2004 Interest Maturity Rate Issuer Type Date Per Annum Rating Value Foreign Currency: Held-to-Maturity Republic of Indonesia Bonds 080106 7.75 B 156,901 Lazard Bank Ltd. Others 122105 4.37 E+ 60,710 Deutsche Bank, Frankfurt Floating rate notes 030206 1.42 B- 37,540 Hypovereinsbank, Munich Floating rate notes 071204 1.24 C- 32,848 Government of Singapore Treasury bills 042904 0.59 28,392 Alliance Leicester Floating rate notes 041708 1.27 B 28,155 Bradford Bingley Floating rate notes 091908 1.26 B 28,155 Canadian Imperial Bank of Commerce Floating rate notes 012008 1.27 B- 28,155 Halifax Bank of Scotland Floating rate notes 060408 1.20 Aa2 28,155 Astra Overseas Finance Obligasi 063006 16,600 ING Bank NV Credit Link Notes 113005 na E+ 10,296 Others Various Various Various 40,140 496,047 Trading Republic of Indonesia Bonds 031014 6.75 B 127,837 Republic of Indonesia Bonds 080106 7.75 B 18,821 Lain-lain Bonds Various Various 9,385 156,043 Available for sale Allied Asian Associates Ltd Promissory notes 093004 10.00 154,853 PT Perusahaan Gas Negara Tbk. Bonds 022414 7.50 B+ 131,036 PT Telekomunikasi Indonesia Tbk. Promissory notes Various Various idA1 107,396 Republik Indonesia Bonds 031014 6.75 B 93,850 PT Medco Energy Bonds 052210 8.75 B+ 92,060 PT Bank Rakyat Indonesia Persero Tbk. Bonds 103013 7.75 B3 74,698 CAB Holdings Ltd. Bonds 072910 8.25 B 74,592 PT Bank Negara Indonesia Persero Tbk. Bonds 111512 10.00 B3B- 65,842 PT Indofood Sukses Makmur Tbk. Bonds 061807 10.38 B 18,770 Indosat Finance Co. Bonds 110510 7.75 B+ 18,742 831,839 Total Foreign Currency 1,483,929 Total 13,958,265 Less: Unamortized interest 22,858 Unrealized loss on decrease in value of securities 10,233 Allowance for possible losses 1,094,798 12,830,376 Based on rating issued by rating agencies including Pefindo, Moody’s and Standard Poor’s 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 39

8. SECURITIES continued