PT Vale Indonesia Tbk Reports Fourth Quarter 2011 Net Earnings of US$13.1 million

Jakarta, February 16, 2012 – PT Vale Indonesia Tbk (“PT Vale Indonesia”, “PTVI” or the “Company”; IDX: INCO) today announces its unaudited results for the fourth quarter of 2011 (4Q11). PTVI delivered 15,604 metric tons (t) of nickel in matte in 4Q11. For 2011 and 2010 the Company delivered 66,815 t and 75,839 t of nickel in matte respectively.

Productions for nickel in matte in the third and fourth quarters of 2011 were 18,073 and 13,728 t, respectively. As expected, the Company produced less nickel in matte in the fourth quarter compared to previous quarter due to the rebuild of its Furnace #2 as part of the plan to increase the production. While shutting it down, we had an incident that impacted Furnace #1 and the Company decided to utilize the situation to move forward scheduled maintenance work on this Furnace #1 initially scheduled for late 2012. 

The company operated two furnaces in November and December 2011. The Company recorded an average realized price of nickel in matte of US$14,928 per t during 4Q11, compared to US$17,735 per t in 3Q11. Throughout the year, the Company’s average realized price of US$18,296 pert, was about 10% more than the 2010 average realized price. Sales were US$237.0 million for the three months ended December 31, 2011 and US$290.1 million in 3Q11. Sales in 2011 declined by about 3% compared to the 2010 net sales.
The Company’s total cost of goods sold (COGS) in 4Q11 increased by more than 16% to US$194.1 million from US$166.8 million in 3Q11 mainly due to increases in services and contracts.

Earnings before interest, taxes, depreciation and amortization (EBITDA) totalled US$48.0 million in 4Q11, compared to US$134.2 million in 3Q11. EBITDA in 2011 of US$548.8 million was 19% less than US$677.6 million EBITDA obtained in 2010. Lower net earnings and EBITDA in 4Q11 in comparison to 3Q11 were mainly due to higher COGS as well as lower average realized price during the period. The Company recorded net earnings of US$13.1 million in 4Q11 (US$0.001 per share) compared to US$81.7 million (US$0.008 per share) achieved in the previous quarter. Total net earnings in 2011 of US$333.0 million were 24% lower than net earnings of US437.4 million in 2010.

In 4Q11 the Company used 13,009 kilolitres of diesel fuel at an average cost of US$0.85 per litre while in 3Q11 it consumed 18,492 kilolitres at an average cost of US$0.87 per litre.

In this same period the Company also consumed 425,089 barrels of High Sulphur Fuel Oil (HSFO) at an average cost of US$105.99 per barrel compared to 697,872 barrels at an average cost of US$105.56 per barrel in the previous quarter. PT Vale Indonesia paid interim dividends of US$99.4 million in November 2011. The total dividend payments on a cash basis reached US$244.4 million in 2011. By end of 2011 the Company had nearly US$399 million of cash and cash equivalents.

Production recovery in 2012 and projects to improve competitiveness and support growth agenda

PTVI completed Furnace #1 repair in mid of January 2012. The repair also included maintenance work

DANAMON’S 2011 NPAT REACHED RP 3.3 TRILLION, UP 16% YEAR-ON-YEAR; RIGHTS ISSUE IMPROVES CAR TO 17.5%

PT Bank Danamon Indonesia Tbk (Danamon) today announced a consolidated net profit after tax (NPAT)

of Rp 3.336 trillion for the year of 2011, which is a 16% growth compared to Rp 2.883 trillion in 2010. The

NPAT growth is supported by strong lending growth in the mass market, small and medium enterprises

(SME) segments as well as a rise in fee income. A successful rights issue in 2011 has also strengthened

the Bank’s capital base, enabling a continued expansion.

“Indonesia’s economic resilience, reflected by its ratings upgrade to investment grade amid debt woes in

Europe and slow recovery in the US, created a positive operating environment that enabled us to sustain a

strong lending growth,” said Henry Ho, President Director of Danamon.

Danamon’s loans reached Rp 101.7 trillion in 2011, or a 23% growth compared to Rp 82.7 trillion in 2010.

Mass market loans, which include auto loans, durable goods loans, loans for self-employed mass market and syariah-based gold-backed financing, booked a 26% growth to Rp 59.252 trillion. Mass market loans accounted for 58% of Danamon’s total portfolio.

In 2011, Danamon’s SME and Commercial banking (mid-size) booked a 23% growth in lending to Rp 24

trillion, which represented 24% of the Bank’s loan portfolio. Specifically, SME loans booked 27% growth to

Rp 14.2 trillion, while Commercial Banking recorded 19% in lending growth to Rp 10 trillion. Moreover,

Danamon’s ABF (Assets Based Financing) unit, which offers heavy equipments financing mostly to our midsize customers in mining and agribusiness industries, posted a 59% loan growth to Rp 4.573 trillion.

“The strong loan growth across our businesses is accompanied by prudent and disciplined banking practices. As a result, we manage to press down our non-performing loans,” said Vera Eve Lim, Danamon Director and Chief Financial Officer. At the end of 2011, Danamon’s gross non-performing loan ratio improved to 2.5% compared to 3.0% at the end of 2010.

“In addition to recording a healthy growth in lending, Danamon’s fee income also increased by 24% to Rp

4.131 trillion on the back of higher credit related fees and fees from bancassurance,” continued Vera. Income from credit related fees has grown by 29% to Rp 3.049 trillion, in line with the Bank’s lending growth, while bancassurance fee income rose by 196% to Rp 330 billion, boosted by a strategic partnership with Manulife Indonesia in the third quarter of 2011.

The Bank’s auto financing business through Adira Finance booked Rp 1.511 trillion in NPAT, which is a

13% year-on-year growth. Adira Finance also issued Rp 41.363 trillion in loans throughout 2011, a 35% year-on-year increase, placing Adira Finance as the leader in the industry. Furthermore, Adira Finance is in

a favorable position to continue growing, after a successful Rp 5 trillion fixed rate bonds issuance in 2011. Meanwhile, Adira Insurance, a subsidiary in general insurance business, recorded an NPAT growth of Rp

331 billion or 26% growth versus previous year on the back of a 36% growth to Rp 1.474 trillion in gross

written premiums. As part of its growth strategy, Adira Insurance added 10 outlets in 2011 and is planning

to open 11 more outlets in 2012.

“In 2011, Danamon successfully raised approximately Rp 5 trillion through a rights issue, which further

strengthened our capital base and put us in a good position to pursue further growth,” added Henry. The

rights issue, which recorded a 113% subscription rate, raised the bank’s consolidated capital adequacy ratio

(CAR) from 16% in a year earlier to 17.5% by the end of 2011, which is well beyond the regulatory

requirement of 8%.

“Following a successful rights issue, we have a greater capacity to expand our network further,” said Vera.

In 2011, Danamon and its subsidiaries added 393 branches and outlets to reach out wider areas. Notable

additions in 2011 include 178 new Danamon Simpan Pinjam branches, 103 Adira Finance branches and

outlets, and 42 Adira Kredit branches and points of sales. To support its network expansion, Danamon hired

more than 9,000 employees throughout 2011, created more job opportunities and brought total employees

to 70,949.

Moving forward, Danamon continues to increase its physical presence by approximately 300 more locations

in 2012, including close to 150 Syariah-based gold-backed financing units (‘Solusi Emas Syariah’) in 2012.

Similarly, in 2012, Adira Finance plans to open 112 additional outlets, while Adira Kredit plans to add 59

additional outlets. To complement the Bank’s network expansion, Danamon has also enhanced its internet and mobile banking services. The Bank’s continuous efforts to improve its internet banking service were well rewarded with a large increase in the utilization of ‘Danamon Online Banking,’ which now reaches about 1.5 million transactions per month. This number is expected to grow further.

The Bank’s total funding rose 9% to Rp 88.054 trillion in 2011 from Rp 80.921 trillion a year earlier on the

back of solid growth in its current account and savings account (CASA), which grew by 12% to Rp 36.433

trillion or 41% of total customer deposits. “The growth in CASA is consistent with the Banks’ strategy to

strengthen its funding franchises,” added Vera.

“We continue to invest in funding franchise, among others, through network expansion. We plan to open

close to 70 conventional branches and add approximately 600 ATMs from 2011 until the end of 2012,”

explained Vera.

About Danamon:

PT Bank Danamon Indonesia Tbk. was established in 1956 and as of December 31, 2011 operates over

3,000 branches and points of sales, including its Danamon Simpan Pinjam (DSP) and Syariah units as well

PT Vale Indonesia Tbk Change of Members of the Board of Commissioners

Jakarta, February 17, 2012 – At today’s Extraordinary General Meeting of Shareholders, the
shareholders of PT Vale Indonesia Tbk (the “Company”) approved the appointment of Mr.
Ricardo Rodrigues de Carvalho as the President Commissioner of the Company, replacing
Mr. Peter Poppinga, while Mr. Poppinga remains as a member of the Board of Commissioner
of the Company.
The shareholders of the Company also accepted the resignation of Mr. Tito B. Martins as
Commissioner of the Company. The Board of Directors and the Board of Commissioners of
the Company would like to thank Mr. Martins for his dedication and commitment to the
Company during his tenure.
Based on the foregoing, the current composition of the Board of Commissioners of the
Company is as follow:

President Commissioner Mr. Ricardo R. de Carvalho
Vice President Commissioner and Independent Commissioner Mr. Arief T. Surowidjojo
Commissioner Mr. Takeshi Kubota
Commissioner Mr. Harumasa Kurokawa
Commissioner Ms. Jennifer A. Maki
Commissioner Mr. Gerd Peter Poppinga
Commissioner Mr. Arif S. Siregar
Commissioner Mr. Mark J. Travers
Independent Commissioner Mr. Irwandy Arif

We will comply with any regulatory requirements applicable relating to the changes of the
Board of Commissioners of the Company.
Brief biography of the newly appointed member of the Board of Commissioner of the
Company:
Ricardo Rodrigues de Carvalho became Vale’s Base Metals Director - Asia Pacific & Africa
in January 2012. He was previously appointed as Base Metals Director - South Atlantic in
June 2010 and before that he was appointed as Vale’s Aluminum Department Director in. He
has worked in the Mining and Metals Business for more than 30 years. He also has worked
for 5 years for Votorantim Group in Brazil as Nickel Business Director.
He is currently responsible for managing Vale’s operations in New Caledonia and Indonesia
and also represents the company in Teal Minerals, a Vale and ARM (African Rainbow
Minerals) JV for the Konkola North copper project implementation in Zambia. He was
appointed by Vale to be the President of Vale Nouvelle Caledonie.
As Vale’s Base Metals Director - Asia Pacific & Africa, Ricardo is based in Vale’s
International SA Singapore Branch Office.

PT INTERNATIONAL NICKEL INDONESIA Tbk INFORMATION ON ASSESSMENT OF FURNACE #2 SHUTDOWN INCIDENT

Jakarta, November 17, 2011 – PT International Nickel Indonesia Tbk (“PTI” or the “Company”; IDX: INCO) today informs an event that occurred on November 2 at its Sorowako operations.
During a scheduled shutdown of Furnace #2 for a rebuild, high temperature molten metal from the furnace came into contact with water, resulting in a series of low intensity steam explosions. Emergency response procedures were put into action immediately and the situation was quickly stabilized. There were no injuries. An initial assessment revealed damage to control systems associated with Furnace #1 and other associated peripheral equipment. As a result, Furnace #1 remained shut down following the event while the Company proceeded with the assessment. Furnaces #3 and #4 continue to operate normally.
Based on the latest assessment it is estimated that Furnace #1 will be back in normal operation in February 2012. The estimated impact on production is approximately 4,600 metric tons, with the loss of 3,300 metric tons in 2011 and 1,300 metric tons in 2012. Based on the Company’s preliminary estimate, total repair costs will be

BUMI Plc - Interim Management Statement Production Report for Q3 2011

Bumi today issues its Production Report for the third quarter ended 30 September 2011.

Highlights
 Strong operating performances across all coal businesses.
 Third quarter group production of 23 million tonnes, up 35% over Q3 2010.
 Year-to-date total Group production of 62 million tonnes, 12% higher than year-to-date 2010.
On track to meet 2011 target of 86 million tonnes of coal.
 Realised prices for Q3 of $94 per tonne, an increase of 32% over Q3 2010.
 Agreement on re-payment of the PT Bumi Resources $251 million loan to Bukit Mutiara and
$231 million investment with Recapital.
 Successful refinancing of $600 million of the $1.9 billion CIC loan by PT Bumi Resources,
reducing its annual interest expense by around $72 million.

Development and Expansion
 Group’s expansion programme on track with 2014 target of 140 million tonnes.
 Berau Coal’s expansion plan to achieve 30 million tonnes annual production in 2014 is on
schedule.
 KPC’s expansion plans to achieve its 2014 target of 70 million tonnes is on schedule. The
Sangatta expansion is underway, with the second overland conveyor under construction,
with expected completion in the first half of 2012. The construction of the Melawan crusher
and conveyor is on track for completion in 2012. Work has commenced on upgrading the
Bengalon facilities.
 Arutmin’s volume expansion to 40 million tonnes in 2014 is on track. Construction of the
West Mulia and Asam-Asam coal processing plants and conveyors is underway with
completion expected by the middle of 2012.

Financing update
 Agreement has been reached on the re-payment of the PT Bumi Resources $231 million
investment with Recapital in H1 2012. A schedule has been agreed for early re-payment
of the PT Bumi $251 million loan to Bukit Mutiara 50% in 2012 and 50% in 2013. These
items, which were fully disclosed in the Bumi plc listing prospectus of 17 June 2011, were
discussed extensively at the Audit Committee and a schedule to secure re-payment of
these PT Bumi loans and investments and to use the proceeds to pay down debt was
presented by the Chief Financial Officer and approved by the plc Board at its meeting in
Jakarta on 12 October.
 It also is agreed that there will be progressive realisation and in all cases marking to fair
value of the business development assets in PT Bumi Resources.
 On 8 November 2011, Bumi plc announced that its associate, PT Bumi Resources, had
completed pre-payment, 2 years early, of $600 million of the $1.9 billion outstanding loan
to the China Investment Corporation. The effect of the debt refinancing will reduce PT
Bumi's annual interest expense by around $72 million. The remainder of the $1.3 billion
CIC debt is able to be pre-paid from October 2012 ($600 million) and October 2013
onwards ($700 million).

Berau Coal
Berau Coal produced 5.3 million tonnes of coal for the quarter, an increase of 23% over Q3
2010.
Year to date production was 14.3 million tonnes and is expected to meet the 20 million tonnes
target for 2011.
Year to date stripping ratio was 9.6 bcm per tonne.
Berau Coal achieved an average selling price per tonne in the third quarter of $87.0/t.

Kaltim Prima Coal (KPC)
KPC produced 11.6 million tonnes of coal, an increase of 29% from the third quarter of 2010.
Year to date production was 29.8 million tonnes, an increase of 6% over the prior period.
Production at the Bengalon mine has been behind schedule and a portion of the site has now
been subcontracted to a new contractor.
The year to date stripping ratio was 12.7 bcm per tonne. KPC achieved