ACCEPTANCES RECEIVABLE continued INVESTMENTS IN SHARES OF STOCK

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2006 With Comparative Figures For 2005 Expressed in millions of Rupiah, unless otherwise stated 59

12. ACCEPTANCES RECEIVABLE continued

b By Maturity: 2006 2005 Rupiah: Less than 1 month 88,066 104,444 1 - 3 months 164,020 61,374 3 - 6 months 59,974 22,517 Total Rupiah 312,060 188,335 Foreign Currency: Less than 1 month 790,217 986,953 1 - 3 months 1,448,175 1,868,876 3 - 6 months 957,886 1,243,348 6 - 12 months 93,303 27,165 Over 12 months 6,752 4,425 Total Foreign Currency 3,296,333 4,130,767 Total 3,608,393 4,319,102 Less: Allowance for possible losses 155,223 429,092 3,453,170 3,890,010 c By Collectibility: 2006 2005 Current 2,968,660 2,563,288 Special mention 599,910 1,161,873 Sub-standard 247 250,612 Doubtful - 67,987 Loss 39,576 275,342 Total 3,608,393 4,319,102 Less: Allowance for possible losses 155,223 429,092 3,453,170 3,890,010 d Movements of Allowance for Possible Losses on Acceptances Receivable: 2006 2005 Balance at beginning year 429,092 147,286 ReversalProvision during the year Note 36 202,701 277,140 Others 71,168 4,666 Balance at end of year 155,223 429,092 Includes effect of foreign currency translation. The minimum allowance for possible losses on acceptances receivable under the guidelines prescribed by Bank Indonesia, as of December 31, 2006 and 2005 is Rp99,295 and Rp429,092, respectively. Management believes that the allowance for possible losses on acceptances receivable is adequate. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2006 With Comparative Figures For 2005 Expressed in millions of Rupiah, unless otherwise stated 60

13. INVESTMENTS IN SHARES OF STOCK

a. The details of investments in shares of stock are as follows: 2006 2005 Equity method of accounting 79,505 62,374 Cost method of accounting 78,990 78,990 Total 158,495 141,364 Less: Allowance for possible losses 73,625 73,298 84,870 68,066 The details of investments in shares of stock as of December 31, 2006 are as follows: Accumulated Equity Investee Nature Percentage of in Retained Earnings Companies of Business Ownership Cost Accumulated Losses Carrying Value Equity Method of Accounting: PT AXA Mandiri Financial Services Insurance 49.00 16,761 62,744 79,505 PT Sarana Bersama Pembiayaan Indonesia Holding company 34.00 2,278 2,278 - 79,505 Cost Method of Accounting: PT Semen Kupang a Manufacturing 59.73 45,023 45,023 PT Sri Thai a Manufacturing 21.60 23,055 23,055 Others each less than Rp3,889 Various 10,912 10,912 78,990 Total 158,495 Less: Allowance for possible losses 73,625 84,870 The details of investments in shares of stock as of December 31, 2005 are as follows: Accumulated Equity Investee Nature of Percentage of in Retained Earnings Companies Business Ownership Cost Accumulated Losses Carrying Value Equity Method of Accounting: PT AXA Mandiri Financial Services Insurance 49.00 16,761 45,613 62,374 PT Sarana Bersama Pembiayaan Indonesia Holding company 34.00 2,278 2,278 - 62,374 PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Year Ended December 31, 2006 With Comparative Figures For 2005 Expressed in millions of Rupiah, unless otherwise stated 61

13. INVESTMENTS IN SHARES OF STOCK continued