SHORT-TERM BANK LOANS FS 30 Sep 11 Tlkm english

PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated 63

19. MATURITIES OF LONG-TERM LIABILITIES a. Current maturities

December 31, September 30, Notes 2010 2011 Bank loans 22 4,478,247 3,396,958 Two-step loans 20 395,363 395,143 Obligations under finance leases 11 198,062 189,679 Bonds and notes 21 126,719 290,008 Deferred consideration for business combinations 23 105,245 - Total 5,303,636 4,271,788 b. Long-term portion In billions of Rupiah Notes Total 2012 2013 2014 2015 Later Bank loans 22 7,521.7 232.0 3,574.7 2,374.7 950.5 389.8 Bonds and notes 21 3,374.0 123.7 207.1 43.2 1,005.0 1,995.0 Two-step loans 20 2,435.0 74.7 321.4 323.9 326.6 1,388.4 Obligations under finance leases 11 330.8 135.9 111.5 30.9 16.7 35.8 Total 13,661.5 566.3 4,214.7 2,772.7 2,298.8 3,809.0 20. TWO-STEP LOANS Two-step loans are unsecured loans obtained by the Government, which are then re-loaned to the Company. The loans entered into up to July 1994 were recorded and payable in Rupiah based on the exchange rate at the date of drawdown. Loans entered into after July 1994 are payable in their original currencies and any resulting foreign exchange gain or loss is borne by the Company. December 31, 2010 September 30, 2011 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Lenders Currency in millions equivalent in millions equivalent Overseas bank Yen 10,750.57 1,191,378 10,366.62 1,187,392 US 120.76 1,088,639 101.87 896,500 Rp. - 856,649 - 746,326 Total 3,136,666 2,830,218 Current maturities Note 19a 395,363 395,143 Long-term portion Note 19b 2,741,303 2,435,075 PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND SEPTEMBER 30, 2011 UNAUDITED AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated 64

20. TWO-STEP LOANS continued

Interest Interest Payment payment rate Lenders Currency schedule period per annum Overseas bank US Semi-annually Semi-annually 4.00 - 6.67 Rp. Semi-annually Semi-annually 7.57 - 7.73 Yen Semi-annually Semi-annually 3.10 The loans are intended for the development of telecommunications infrastructure and supporting equipment. The loans are payable in semi-annual installments and are due on various dates through 2024. Since 2008, the Company has used all facilities under the two-step loans program and the drawdown period for the two-step loans has expired. The Company is required to maintain financial ratios as follows: a. Projected net revenue to projected debt service ratio should exceed 1.5:1 and 1.2:1 for the two-step loans originating from the World Bank and Asian Development Bank “ADB”, respectively. b. Internal financing earnings before depreciation and interest expense should exceed 50 and 20 compared to annual average capital expenditures for loans originating from World Bank and ADB, respectively. As of September 30, 2011, the Company complied with the above mentioned ratios. Refer to Note 44 for details of related party transactions. 21. BONDS AND NOTES December 31, 2010 September 30, 2011 Outstanding Outstanding Original Original currency Rupiah currency Rupiah Bonds and notes Currency in millions equivalent in millions equivalent Bonds Series A Rp. - 1,005,000 - 1,005,000 Series B Rp. - 1,995,000 - 1,995,000 Medium Term Notes “MTN” Metra Rp. - 47,000 - 39,000 Sigma Rp. - 30,000 - 30,000 Finnet Rp. - 23,750 - 19,700 Promissory Notes PT. ZTE Indonesia “ZTE” US 7.08 63,824 10.41 91,598 Huawei Tech US 23.46 211,524 54.96 483,679 Total 3,376,098 3,663,977 Current maturities Note 19a 126,719 290,008 Long-term portion Note 19b 3,249,379 3,373,969