NET OPEN POSITION continued

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated 152

54. SEGMENT INFORMATION continued

Secondary Segment Information as of and for the Eight-Month Period Ended December 31, 2003 Indonesia Domestic Asia Europe Other Elimination Consolidated Operating income 17,538,883 168,055 53,590 533,889 - 18,294,416 Inter-segment operating income 103,516 - - - 103,516 - Operating income including inter-segment operating income 17,642,399 168,055 53,590 533,889 103,516 18,294,416 Operating expenses 12,688,727 93,723 43,499 469,853 - 13,295,801 Inter-segment operating expenses 10,718 - - - 10,718 - Operating expenses including inter-segment operating expenses 12,699,445 93,723 43,499 469,853 10,718 13,295,801 Profit from Operations 4,942,954 74,332 10,091 64,036 92,798 4,998,615 Net Profit 3,143,826 103,153 10,357 64,036 92,798 3,228,574 Total Assets 230,417,927 3,566,625 1,286,741 16,621,671 2,457,410 249,435,554 Total assets as a percentage of total consolidated assets prior to elimination 91.47 1.42 0.51 6.60 Excludes PT AXA Mandiri Financial Services formerly PT Asuransi Jiwa Mandiri not consolidated as 51 of the ownership previously held by Bank Mandiri has been sold to National Mutual International Pty. Ltd., member of AXA Group, on November 5, 2003 Note 2b. Primary Segment Information as of and for the Four-Month Period Ended April 30, 2003 ‘Syariah’ Banking Banking Securities Insurance Others Elimination Consolidated Operating income 10,877,481 91,963 6,131 6,155 26,996 - 11,008,728 Inter-segment operating income 45,751 - - - - 45,751 - Operating income including Inter-segment operating income 10,923,232 91,963 6,131 6,155 26,996 45,751 11,008,728 Operating expenses 9,080,613 81,242 7,183 5,742 18,999 - 9,193,781 Inter-segment operating expenses 15,839 - - - - 15,839 - Operating expenses including inter-segment operating expenses 9,096,452 81,242 7,183 5,742 18,999 15,839 9,193,781 Profit from Operations 1,826,780 10,721 1,052 413 7,997 29,912 1,814,947 Net Profit 1,362,651 5,197 8,882 348 10,349 29,912 1,357,515 Total Assets 261,056,979 1,965,513 729,870 12,245 277,800 2,756,498 261,285,909 Total assets as a percentage of total consolidated assets prior to elimination 98.87 0.74 0.28 0.00 0.11