GOVERNMENT RECAPITALIZATION BONDS continued

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 46

7. GOVERNMENT RECAPITALIZATION BONDS continued

April 30, 2003 continued Available-for-sale Frequency of Interest Rates Maturity Series Nominal per Annum Fair Value Dates Interest Payment Fixed rate FR0002 16,703,548 12.25 18,271,069 07152007 6 months bonds - FR0020 - 15.58 - 12152013 Variable rate VR0012 17,686,427 SBI 3 months 17,354,895 09252007 3 months bonds - VR0022 -03252016 34,389,975 35,625,964 Trading Frequency of Interest rates Maturity Series Nominal per Annum Fair Value Dates Interest Payment Fixed rate FR0002 4,514,255 12.13 4,784,268 05152005 6 months bonds - FR0021 - 14.50 12152010 Variable rate VR0005 4,538,643 SBI 3 months 4,528,628 05252004 3 months bonds - VR0013 - 01252008 9,052,898 9,312,896 Significant information relating to Government Recapitalization Bonds is as follows: 2004 As of December 31, 2004, Government Recapitalization Bonds with a total nominal amount of Rp2,870,748 had been sold to counterparties with agreements to repurchase Note 22. All maturing hedge bonds in 2004 were replaced by variable rate bonds with serial numbers VR0028, VR0029 and VR0031, with an aggregate nominal value of Rp6,843,983. 2003 As of December 31, 2003, Government Recapitalization Bonds with an aggregate nominal value of Rp4,800,821 have been sold to other parties with agreements to repurchase Note 22. The Government rescheduled all of the hedge bonds held by Bank Mandiri by redeeming the old bonds and issuing new bonds with longer maturities, based on the Minister of Finance Decree No. S-71MK.012003 dated February 25, 2003. Hedge bonds with a total nominal value of Rp16,783,376 were redeemed, and Rp16,076,909 of hedge bonds and Rp706,467 of variable bonds were issued. Based on the Minister of Finance Decree No. S-174MK.012003 dated April 24, 2003, Bank Mandiri returned the excess Government Recapitalization amount of Rp1,412,000. This was accomplished by returning Government Recapitalization Bonds with serial numbers FR0007, FR0009 and VR0019 with nominal amounts of Rp870,315, Rp34,523 and Rp507,162, respectively, to the Government on April 25, 2003 Note 32. PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated 47

8. OTHER RECEIVABLES - TRADE TRANSACTIONS

a. By Type and Currency: December 31, December 31, April 30, 2004 2003 2003 Rupiah: Usance payable at sight 167,583 52,118 55,126 Others 1,063 11,792 - 168,646 63,910 55,126 Foreign Currency: Usance payable at sight 1,683,547 863,567 558,861 Others 211,458 564,254 - 1,895,005 1,427,821 558,861 Total 2,063,651 1,491,731 613,987 Less: Allowance for possible losses 124,472 85,309 40,802 1,939,179 1,406,422 573,185 b. By Collectibility: December 31, December 31, April 30, 2004 2003 2003 Current 1,523,007 1,491,731 613,987 Special mention 498,789 - - Sub-standard 41,855 - - Doubtful - - - Loss - - - Total 2,063,651 1,491,731 613,987 Less: Allowance for possible losses 124,472 85,309 40,802 1,939,179 1,406,422 573,185 c. By Maturity: December 31, December 31, April 30, 2004 2003 2003 Less than 1 month 397,735 923,542 243,624 1 - 3 months 788,473 329,902 132,190 Over 3 months 877,443 238,287 238,173 Total 2,063,651 1,491,731 613,987 Less: Allowance for possible losses 124,472 85,309 40,802 1,939,179 1,406,422 573,185