Tax expense - Deferred

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 5115 30. OTHER LIABILITIES 2011 2010 Rupiah: Accrued employee bonus and incentives, leave and yearly allowance THR 1,414,811 1,331,555 Provision for post employment benefits Note 45 1,404,375 1,178,427 Acrrued expenses operational and IT 1,322,131 1,191,762 Guarantee deposits 715,208 610,024 Liability to policyholders 695,113 370,400 Payable from purchase of marketable securities 682,240 2,165 Payable to customer 615,996 698,436 Liability related to ATM and credit card transaction 600,894 543,007 Allowance for estimated losses arising from legal cases Note 58b 565,256 555,525 Deferred income 117,211 103,024 Provision for employees’ service – service free period Note 45 10,352 56,273 Others 4,558,808 1,629,496 Total Rupiah 12,702,395 8,270,094 Foreign currencies: Guarantee deposits 969,853 809,335 Acrrued expenses operational and IT 344,491 168,330 Deferred income 184,514 85,872 Allowance for estimated losses arising from legal cases Note 58b 9,367 19,403 Accrued employee bonus and incentives, leave and yearly allowance THR 381 2,076 Obligation under capital lease - 74 Others 1,167,186 983,770 Total foreign currencies 2,675,792 2,068,860 15,378,187 10,338,954 Accrued expenses consists of liability to vendors which includes the Bank’s IT-related operational activities. Guarantee deposits are cash guarantee deposited by the Bank’s customers for export and import transaction and bank guarantee issuance. Liabilities to policyholders consists of Subsidiary’s liability for non unit-linked policy holders, debt claims, deferred premium income and claim liability, amounting Rp511,321, Rp25,067, Rp118,476 and Rp40,249 as at 31 December 2011 and amounting to Rp248,588, Rp21,330, Rp84,706 and Rp15,776 as at 31 December 2010, respectively. Payable from purchase of marketable securities represents the Bank’s liability relating to purchase of marketable securities transactions that have been subsequently settled on 4 January 2012. Payable to customer are mostly represent payable arising from marketable securities transaction by PT Mandiri Sekuritas the Bank’s subsidiary. Liability related to ATM and credit card transaction represents payable arising from ATM transactions within ATM Bersama network and payable to Visa and MasterCard on credit card transactions. Deferred income represents unamortised provisioncommissions not directly attributable to loans. Others mostly consist of inter-office account, liabilities related to import transaction, and suspense such as settlement of customer’s financial transaction such as money transfer. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 5116 30. OTHER LIABILITIES continued Movements of allowance for estimated losses arising from legal cases for the years ended 31 December 2011 and 2010 are as follows: 2011 2010 Balance at beginning of year 574,928 514,366 Allowance during the year Note 40 14,57 6 61,381 Reversal during the year 14,939 - Others 58 819 Balance at end of year 574,623 574,928 Includes effect of foreign currency translation. Management believes that the allowance for estimated losses arising from legal cases is adequate.

31. SUBORDINATED LOANS

By Type and Currency: 2011 2010 Rupiah: Related parites Note 51 Subordinated Bond Rupiah Bank Mandiri I 2,055,900 2,004,900 Third parties Two-Step Loans TSL a Nordic Investment Bank NIB 117,175 138,480 b ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF - OECF 19,501 32,503 136,676 170,983 Bank Indonesia 2,061,459 2,230,259 Subordinated Bond Rupiah Bank Mandiri I 1,423,335 1,471,560 3,621,470 3,872,802 Total Rupiah 5,677,370 5,877,702 Foreign currencies: Third parties Two-Step Loans TSL d Asian Development Bank ADB 174,428 178,870 Total foreign currencies Note 57B.v 174,428 178,870 5,851,798 6,056,572 Two-Step Loans TSL a Nordic Investment Bank NIB This account represents a credit facility obtained from Nordic Investment Bank NIB to the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance several projects in Indonesia. The detail of this facility is as follows: Credit Facility Purpose Repayment Period Nordic Investment Bank IV To promote and finance high priority investment projects in Indonesia, primarily in the private sector, or joint Indonesian and Nordic interests. 15 April 1997 – 28 February 2017 with the 1 st installment on 31 August 2002. The details of credit facilities from NIB are as follow: 2011 2010 Nordic Investment Bank IV NIB IV 117,175 138,480 The interest rates on the NIB IV facility is based on variable interest rates as determined by Bank Indonesia in accordance with the prevailing average interest rates of Certificate of Bank Indonesia in the last 3 three months.