SUBORDINATED LOANS continued 166996CF B6AA 4D8A 8662 359D238F1CD7 Consol Fin stat 2007 English

PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated 86

29. SUBORDINATED LOANS continued

Two-Step Loans TSL continued d International Bank for Reconstruction and Development IBRD This account represents credit facilities obtained from IBRD through the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows: Credit Facility Purpose Repayment Period Financial Sector Development Project FSDP To finance Financial Sector Development Projects. February 1, 1993 - September 15, 2007 with 1 st installment on March 15, 1998. Agricultural Financing Project AFP To finance production sector projects and agriculture, animal husbandry, fishery and forestry industries. January 10, 1992 - December 1, 2006 with 1 st installment on June 1, 1995. Details of credit facilities from the International Bank for Reconstruction and Development IBRD are as follows: 2007 2006 a Financial Sector Development Project FSDP - 8,674 b Agricultural Financing Project AFP - - - 8,674 The interest rate on the FSDP credit facility is 0 per annum. Installments for the FSDP credit facility are repayable on March 15 and September 15 of every year. The Bank has fully repaid the credit facility on September 15, 2007. The interest rate on the AFP facility is computed based on a variable interest rate for a period of six months, at the lower of: · Six-months’ average interest rate for three-month Certificates of Bank Indonesia. · Six-months’ average interest rate for three-month time deposits in five state-owned banks. The interest rate on the AFP facility shall not be lower than the interest rate charged by IBRD to the Government plus 2 per annum. The Bank has fully settled AFP facility on December 1, 2006. e ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF-OECF This account represents a credit facility obtained from AJDF-OECF through the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows: Credit Facility Purpose Repayment Period Pollution Abatement Equipment Program PAE Small Scale Industry SSI To purchase equipment to prevent pollution To finance small-scale industry August 19, 1993 - August 19, 2013, with 1 st installment on August 15, 1998 August 19, 1993 - August 19, 2013, with 1 st installment on August 15, 1998 PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2007 and 2006 Expressed in millions of Rupiah, unless otherwise stated 87

29. SUBORDINATED LOANS continued