Trade Financing with Asian Development Bank ADB

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2010, 2009 AND 2008 Expressed in millions of Rupiah, unless otherwise stated Appendix 5176 59. NEW ACCOUNTING STANDARDS continued - SFAS 8 Revised 2010 - Events after the Reporting Period, - SFAS 12 Revised 2009 - Interest in Joint Ventures, - SFAS 15 Revised 2009 - Investment in Associates, - SFAS 19 Revised 2010 - Intangible Assets, - SFAS 22 Revised 2010 - Business Combination, - SFAS 23 Revised 2010 - Revenue, - SFAS 25 Revised 2009 - Accounting Policies, Changes in Accounting Estimates and Errors, - SFAS 48 Revised 2009 - Impairment of Assets, - SFAS 57 Revised 2009 - Provisions, Contingent Liabilities and Contingent Assets, - SFAS 58 Revised 2009 - Non-Current Assets Held for Sale and Discountinued Operations, - Interpretation of SFAS 7 Revised 2009 - Consolidation of Special Purpose Entities, - Interpretation of SFAS 9 - Changes in Existing Decommissioning, Restoration and Similar Liabilities, - Interpretation of SFAS 10 - Customer Loyalty Program, - Interpretation of SFAS 11 - Distribution of Non-Cash Assets to Owners, - Interpretation of SFAS 12 - Jointly Controlled Entities - Non Monetary Contributions by Venturers, - Interpretation of SFAS 14 - Intangible Assets - Web Site Cost, - Interpretation of SFAS 17 - Interim Financial Reporting and Impairment. DSAK-IAI has also issued revision of the following accounting standards which are applicable for financial statements covering periods beginning on or after 1 January 2012: - SFAS 10 Revised 2010 - The Effects of Changes in Foreign Exchange Rates, - SFAS 24 Revised 2010 - Employee Benefits, - SFAS 46 Revised 2010 - Income Taxes, - SFAS 53 Revised 2010 - Share-Based Payment, - SFAS 61 Revised 2010 - Accounting for Government Grants and Disclosure of Government Assistance, - SFAS 63 - Financial Reporting in Hyperinflationary Economies, - Interpretation of SFAS 13 - Hedge of Net Investment in a Foreign Operation, - Interpretation of SFAS 15 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction, - Interpretation of SFAS 18 - Government Assistance, - Interpretation of SFAS 20 - Income Taxes – Changes in the Tax Status of an Entity or its Shareholders. Bank Mandiri and Subsidiaries is currently evaluating the impact of the implementation of these revised standards on the consolidated financial statements.

60. SUBSEQUENT EVENTS

a. Limited Public Offering On 27 December 2010, the Bank has submitted its first registration to the Capital Market Supervisory Board and Financial Institution Bapepam-LK in relation to the Limited Public Offering with Pre- emptive Right Issue LPO of 2,336,838,591 shares of B series. The LPO has been approved by Board of Commissioners through its letter dated 29 April 2010. The Bank has informed Bank Indonesia about the LPO through its letter dated 17 September 2010. The LPO has also been legislated through Government Regulation PP No. 75 year 2010 dated 20 November 2010. The LPO has been approved by Bapepam-LK through letter No.S-807BL2011 on 27 January 2011, where the LPO would become effective after obtaining approval from the shareholders in the Extraordinary General Shareholders Meeting which were held on 28 January 2011.