SUBORDINATED LOANS Continued 2002 12 Full Audited Financial Statements w Notes

PT BANK MANDIRI PERSERO AND SUBSIDIARIES Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001 Expressed in millions of Rupiah, unless otherwise stated - 87 -

30. SUBORDINATED LOANS Continued

Two-Step Loans Continued b Export-Import Bank of Japan EBJ Continued The interest rate on the credit facilities from EBJ-TSL I and EBJ, TSL II is based on the weighted average interest rate for customers’ deposits in the participating banks as determined by Bank Indonesia every six 6 months, less 1. The interest rate on the credit facilities from EBJ-TSL III, IV and V is based on the floating interest rate determined every six 6 months based on the prevailing average interest rate for the past six 6 months for three-month Certificates of Bank Indonesia, which should: Not be higher than the six months’ average interest rate for three-month time deposits in five state-owned banks and not be lower than the interest rate on EBJ loans plus 4 for EBJ-TSL III. Not be higher than the six months’ average interest rate for three-month time deposits in five state-owned banks for EBJ-TSL IV and V. c Asian Development Bank “ADB” This account represents credit facilities from the ADB through the Government of the Republic of Indonesia, via the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows: Credit Facility Purpose Repayment Period ADB Fishery II Finance government projects in funding credit for fishery projects. December 19, 1991 - September 15, 2006 with the 1 st installment on March 15, 1995. ADB Perkebunan Nusantara XII formerly Nescoco Plasma and Nescoco Inti Finance government projects in funding credit for plantation projects. February 15, 1989 - September 15, 2008 with the 1 st installment on March 15, 1995. ADB Agro Industry Finance industrial sector. May 13, 1988 - September 15, 2002 with the 1 st installment on March 15, 1991. Second Bapindo Project Finance all industrial sectors which have high socio-economic value and which are carried out by the private sector. December 28, 1987 - May 1, 2002 with the 1 st installment on November 1, 1990. Development Financing Loan Project Finance industrial sector prioritizing manufacturing products for non-oil export, agro-based industry, employee- centred programs and earning foreign exchange. January 10, 1990 - January 15, 2005 with the 1 st installment on July 15, 1993. PT BANK MANDIRI PERSERO AND SUBSIDIARIES Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001 Expressed in millions of Rupiah, unless otherwise stated - 88 -

30. SUBORDINATED LOANS Continued