Legal Matters SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES a.

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 5175 58. GOVERNMENT GUARANTEE FOR THE OBLIGATIONS OF LOCALLY INCORPORATED BANKS continued The government charged the premium associated with the guarantee program in accordance with applicable regulations Note 36. Based on Presidential Decree No. 152004 dated 27 February 2004 about the duty cessation and the closure of IBRA, and the Minister of Finance Decree No. 84KMK.062004 dated 27 February 2004, the Government of the Republic of Indonesia established a Government Guarantee Unit UP3, a new institution to replace IBRA, to continue implementing the Government Guarantee Program for Liability in Local Banks. In accordance with the Regulation of the Minister of Finance No. 17PMK.052005 dated 3 March 2005, starting on 18 April 2005 types of bank liabilities are guaranteed by the Government Guarantee Program include demand deposits, saving deposits, time deposits and fund borrowings from other banks in form of Interbank Money Market transactions. Government Guarantee Program through Government Guarantee Unit UP3 was terminated on 22 September 2005, as stated in the Regulation of the Minister of Finance of the Republic of Indonesia No. 68PMK.052005 dated 10 August 2005 about Premium Calculation and Payment of Government Guarantee Programs on Obligations of Banks for the period 1 July until 21 September 2005. In lieu of UP3, the Government has established an independent institution, the Indonesia Deposit Insurance Corporation LPS based on the Law of the Republic of Indonesia No. 24 year 2004 dated 22 September 2004 concerning the Indonesia Deposit Insurance Corporation, where LPS ensure public funds, including funds from other banks in demand deposits, time deposits, certificates of deposit, savings andor other equivalent form. Based on the Indonesia Deposit Insurance Corporation Regulation No. 1PLPS2006 dated 9 March 2006 concerning the Deposit Guarantee Program, the maximum guaranteed amount for each customer in one bank is amounting to Rp100,000,000 full amount. In accordance with Government Regulation PP No. 66 year 2008 regarding the Amount of the Guaranteed Savings Guaranteed by Indonesia Deposit Insurance Corporation, the value of each customer deposits in one bank guaranteed by the Government is amounting to Rp2,000,000,000 full amount which was previously Rp100,000,000 full amount, effective since 13 October 2008. Based on the Law of the Republic of Indonesia No. 7 year 2009, Government Regulation in Lieu of Law on the Indonesia Deposit Insurance Corporation has been enacted into Law since the date of 13 January 2009.

59. NEW ACCOUNTING STANDARDS

Financial Accounting Standard Board of Indonesian Institute of Accountants DSAK-IAI has issued revision of the following accounting standards which will be effective as at 1 January 2011 as follows: - SFAS 1 Revised 2009 - Presentation of Financial Statements, - SFAS 2 Revised 2009 - Statements of Cashflows, - SFAS 3 Revised 2010 – Interim Financial Reporting, - SFAS 4 Revised 2009 - Consolidated Financial Statements and Separate Financial Statements, - SFAS 5 Revised 2009 - Operating Segments, - SFAS 7 Revised 2010 - Related Party Disclosures,