ACCRUED EXPENSES LONG-TERM BANK LOANS

PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006 Expressed in thousands of Rupiah, unless otherwise stated 31

13. TAXATION continued

f Deferred tax assets liabilities: 2 0 0 7 2 0 0 6 The Company: Tax loss carried forward 8,424,733 - Provision for employee service entitlements 334,893 430,615 Accrued expense 117,545 117,545 Fixed assets 131,628 166,267 Net deferred tax assets, the Company 8,745,543 381,893 Subsidiaries: Provision for employee service entitlements 2,988,410 2,295,574 Tax losses carried forward 639,172 29,011 Provision for write down of Plasma 623,349 623,349 Accrued expense 62,426 62,425 Fixed assets 1,090,303 860,295 Net deferred tax assets - Subsidiaries 3,223,054 2,150,064 Deferred tax assets, Net 11,968,597 2,531,957 Deferred tax assets in 2007 has accounted deferred tax liabiities of Sungai Rangit, which was consolidated starting from January 1, 2007, amounted to Rp326,505 as of December 31, 2006. The utilization of deferred tax assets recognized by the Group is dependent upon future taxable income in excess of income arising from the reversal of existing taxable temporary differences. g In January 2007, the Company received tax assessment letters from the Tax Office, which approved to refund the Companys claim for corporate income tax at the amount of Rp3,420,782 from the total claim of Rp3,616,037. Out of the said approved amount, Rp195,255 was charged as part of Licences and permits in the General and administration expenses. From the approved amount, Rp136,000 was transferred as current period’s prepaid income tax and Rp3.284.782 was already received. h In April 2007, Sungai Rangit received tax assessment letters from Tax Office stating that corporate income tax for 2002 was nil.

14. ACCRUED EXPENSES

2 0 0 7 2 0 0 6 Interest 13,643,148 - Professional fees 17,101,681 - Employee expenses 5,850,094 5,074,659 Others 2,994,326 2,509,692 Total 39,589,249 7,584,351 PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006 Expressed in thousands of Rupiah, unless otherwise stated 32

15. LONG-TERM BANK LOANS

2 0 0 7 2 0 0 6 Credit Suisse, Singapore Branch - The Company 905,400,000 - PT Bank Central Asia Tbk - Sungai Rangit 192,000,000 - PT Bank Mandiri Persero Tbk: - The Company - 77,712,764 - Gunung Tua Abadi - 24,483,592 PT Bank Rakyat Indonesia Persero Tbk: - Telaga Hikmah - 78,554,460 - Mutiara Bunda Jaya - 45,676,715 Total 1,097,400,000 226,427,531 Less: current portion of long-term loans Credit Suisse, Singapore Branch - The Company 41,648,400 - PT Bank Mandiri Persero Tbk: - The Company - 31,250,000 - Gunung Tua Abadi - 11,750,000 PT Bank Rakyat Indonesia Persero Tbk: - Telaga Hikmah - 18,250,000 - Mutiara Bunda Jaya - 7,750,000 Total Current portion of long term loan 41,648,400 69,000,000 Long Term Portion 1,055,751,600 157,427,531 Credit Suisse, Singapore Branch The Company On January 26, 2007, the Company obtained a term loan amounting to US100,000,000 from Credit Suisse, Singapore branch. The loan which bears interest at LIBOR plus 2.5 per annum, shall be repaid in sixteen quarterly installments ranging from US4,600,000 to US8,300,000 starting April 26, 2008 after a grace period of 15 months up to January 26, 2012. Based on the loan agreement, the loan shall be used mainly for the purpose of i intra-group lending to the Company’s parent for refinancing its existing financial indebtness, ii for funding business expansion, working capital, and repayment of the existing financial indebtness of the Company and Subsidiaries, and iii to pay costs incurred relation to the loan facility. The loan contains certain restrictions on the Company, among others, to enter into a merger or acquisition, provide guarantee, change in business, and enter into treasury transactions. The loan also requires the Company maintain certain financial covenants and financial ratios as mentioned in the agreement. The loan is collateralizedsecured by the following: 1. Corporate guarantee from Binasawit Makmur, Mutiara Bunda Jaya, Aek tarum, Gunung Tua Abadi and Telaga Hikmah, all Subsidiaries of the Company. 2. Shares pledged from the Company, PT Nitiagro Lestari, Venture Max Resources Pte., Ltd., Singapore, and Xian Investment Holdings Limited. 3. Moveable assets owned by the Company and Subsidiaries Note 10 4. Land owned by the Company and Subsidiaries Note 10 The Company may accelerate its loan repayment by informing the facility agent minimum 10 days before current period ended and pay at the end of the current period the amount of outstanding loan plus accrued interest and other charges as mentioned in the agreement. PT SAMPOERNA AGRO Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Six Months Ended June 30, 2007 and 2006 Expressed in thousands of Rupiah, unless otherwise stated 33

15. LONG-TERM BANK LOANS continued Credit Suisse, Singapore Branch continued