DEPOSITS FROM OTHER BANKS - DEMAND DEPOSITS continued DEPOSITS FROM OTHER BANKS - INTER-BANK CALL MONEY

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 86

21. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS AND CERTIFICATES OF DEPOSIT continued

b. By Period continued: December 31, April 30, December 31, 2003 2003 2002 Foreign Currency: Less than 1 month 179,757 53,345 67,438 3 months 27,695 17,351 110,079 6 months 144,589 32,044 28,808 12 months 57,290 - - Over 12 months - - - 409,331 102,740 206,325 10,042,215 11,930,461 11,502,677 Included in deposits from other banks - time deposits are unrestricted investments - mudharabah time deposits amounting to Rp38,223, Rp9,670 and Rp2,150 as of December 31, 2003, April 30, 2003 and December 31, 2002, respectively. c. Average Interest Rates and Range of Profit Sharing Per Annum: Average interest rates per annum : December 31, April 30, December 31, 2003 2003 2002 Rupiah 12.41 11.68 14.64 Foreign Currency - 2.41 3.24 Range of profit sharing per Annum: December 31, April 30, December 31, 2003 2003 2002 Rupiah 11.69-13.12 10.18-13.12 11.21-14.33 Foreign Currency - 2.80-4.01 3.29-4.38 Certificates of Deposit The annual average interest rate for certificates of deposit is Nil, Nil and 14.64 for the eight-month period ended December 31, 2003, the four-month period ended April 30, 2003 and the year ended December 31, 2002, respectively. The terms are as follows: December 31, April 30, December 31, 2003 2003 2002 Rupiah: 1 month - - 30 3 months - - - 6 months - - - 12 months - - - Total - - 30 Less: Unamortized interest - - - - - 30 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 87

21. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS AND CERTIFICATES OF DEPOSIT continued

d. As of December 31, 2003, April 30, 2003 and December 31, 2002, the Bank has no time deposits and certificates of deposit from related party banks . e. As of December 31, 2003, April 30, 2003 and December 31, 2002, time deposits which are frozen and blocked as collateral for bank guarantees and loan and working capital facilities, amounted to Rp33,591, Rp36,446 and Rp17,530, respectively. f. The Bank has effectively ceased the offering of certificates of deposit products since April 2002. 22. SECURITIES SOLD WITH AGREEMENTS TO REPURCHASE December 31, 2003 Counter-party Commencement date Maturity date Nominal Repo Serial Number Deutsche Bank 05092003 10252006 1,305,000 GRB VR0010 Standard Chartered Bank 06042003 06062005 1,037,500 GRB VR0013 Bank Mega 09252003 09252005 400,000 GRB VR0014 Bank Mega 09252003 09252005 400,000 GRB VR0015 Bank Mega 09252003 09252005 400,000 GRB VR0017 Bank Mega 09112003 09112005 266,667 GRB VR0014 Bank Mega 09112003 09112005 266,667 GRB VR0015 Bank Mega 09112003 09112005 266,666 GRB VR0017 Standard Chartered Bank 11172003 01122004 32,603 GRB FR0002 Bank Bumiputera 12232003 01292004 17,074 FRN Standard Chartered Bank 11172003 01122004 9,000 GRB FR0005 Standard Chartered Bank 11172003 01122004 4,500 GRB FR0004 4,405,677 The agreements to repurchase Government Recapitalization Bonds with Deutsche Bank series VR0010 and Standard Chartered Bank series VR0013 are associated with cross currency swap transactions with the respective counterparties. The Bank will settle all the repurchase agreements at nominal values at maturity. There is no premium or discount on these contracts. On October 31, 2003, Bank Mandiri made an early termination of its repurchase agreement involving a Government Recapitalization Bond series FR0002 nominal value of Rp980,000 with Deutsche Bank. April 30, 2003 and December 31, 2002 As of April 30, 2003 and December 31, 2002, securities sold with agreements to repurchase are as follows: Counter-party Commencement Date Maturity Date Nominal Remark Deutsche Bank Jan 31, 2002 Jan 31, 2004 735,000 Government Recapitalization Bonds FR0002 The Bank sold Government Recapitalization Bond serial number FR0002 with an agreement to repurchase, and entered into a swap transaction with Deutsche Bank Notes 8 and 10.