GOVERNMENT RECAPITALIZATION BONDS continued

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 41

7. GOVERNMENT RECAPITALIZATION BONDS continued

2005 continued Available for sale Interest Rates Maturity Frequency of Nominal per Annum Fair Value Dates Interest Payment Fixed rate bonds 1,829,634 14.00- 1,875,674 06152009- 6 months 15.58 12152013 Variable rate bonds 27,267,428 3-month SBI 26,941,969 03252006- 3 months 07252020 29,097,062 28,817,643 Held to maturity Interest Rates Maturity Frequency of Nominal per Annum Dates Interest Payment Fixed rate bonds 1,350,000 13.15 03152010 6 months Variable rate bonds 59,744,598 3-month SBI 12252014- 3 months 07252020 61,094,598 Significant information relating to Government Recapitalization Bonds is as follows: 2006 As of December 31, 2006, Government Recapitalization Bonds with a total nominal amount of Rp1,605,954 had been sold to counterparties with agreements to repurchase Note 22. The ownership of Government Recapitalization Bonds with an aggregate nominal value of Rp1,926,843 have been transferred to counterparty bank related with Callable Parallel Deposits Note 21 and Callable Zero Coupon Deposits transactions. Because of significant risk and rewards of ownership of Government Recapitalization Bonds that have not been transferred to counterparty bank, the Bank still recognized Government Recapitalization Bonds on its balance sheet. The Bank has also entered in two Callable Zero Coupon Deposits transaction with counterparty bank related to transfer contract of Government Recapitalization Bonds. Such contract was initiated when the Bank transferred Government Recapitalization Bonds to counterparty bank and received the fund from the proceeds in Rupiah. A portion of the total transfer proceeds amounting to Rp974,666 was placed back as Callable Zero Coupon Deposits to the counterparty bank. A summary of callable zero coupon deposit contract is as follows: Effective Maturity Beginning Ending Effective Deposits Date Date Balance Balance Interest Rate Rupiah July 29, 2004 June 20, 2013 359,666 1,000,000 12.18 Rupiah April 8, 2005 December 20, 2013 615,000 1,514,470 10.90 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 42

7. GOVERNMENT RECAPITALIZATION BONDS continued